Bitcoin (BTC) is struggling to attract trader interest, trading just above $98,000 amid claims of overvaluation by analysts at CryptoQuant, who suggest its fair value lies between $48,000 and $95,000. On-chain activity has drastically decreased, with a 15% drop in Bitcoin's Network Activity Index over the past year, primarily driven by a 53% drop in daily transactions. While Bitcoin remains stagnant, gold has gained momentum, reaching record highs due to its appeal as a hedge against uncertainty, appreciating over 9% year-to-date and potentially marking its sixth consecutive weekly gain. The upcoming nonfarm payrolls (NFP) report is anticipated to show a slowdown in job creation, which could impact market strategies and influence Federal Reserve rate policies. A disappointing jobs report could trigger demand for riskier assets like Bitcoin, whereas a stronger-than-expected report may deter risk appetite amid economic concerns. With various factors at play, including potential policy shifts and market sentiments, the NFP report could play a critical role in determining the future trajectories of both Bitcoin and gold.

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