{"id":6306,"date":"2025-09-06T16:39:13","date_gmt":"2025-09-06T16:39:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/6306\/"},"modified":"2025-09-06T16:39:13","modified_gmt":"2025-09-06T16:39:13","slug":"did-bitcoin-bottom-weak-us-jobs-data-shakes-the-market","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/6306\/","title":{"rendered":"Did Bitcoin Bottom? Weak US Jobs Data Shakes The Market"},"content":{"rendered":"

Key takeaways:<\/p>\n

Bitcoin briefly surged to $113,000 before reversing after weaker-than-expected US payrolls data.<\/p>\n

Onchain flows show $2 billion in stablecoin inflows and record open interest near all-time highs.<\/p>\n

A weekly close above $112,500 is needed to confirm a lasting market bottom.<\/p>\n

Bitcoin (BTC<\/a>) has rallied as much as 4.75% this week, rising to $113,384 from $109,250, extending its bullish momentum into the US Nonfarm Payrolls (NFP) release on Friday.<\/p>\n

The data came in significantly weaker than expected, with only 22,000 jobs added in August versus forecasts of 75,000 and July\u2019s 73,000 print. The unemployment rate ticked up to 4.3%, in line with expectations but higher than July\u2019s 4.2%, while wage growth slowed to 3.7% year-over-year from 3.9%.<\/p>\n

For risk assets like Bitcoin, weaker labor market data strengthens the case for Federal Reserve rate cuts. With Fed cut odds at 88.2%,<\/a> the report underscores cooling inflationary pressures and increases the likelihood of liquidity injections. Lower rates and dollar weakness typically act as a tailwind for crypto markets.<\/p>\n

Onchain data signals suggest<\/a> that the market was preparing for this outcome a day prior. Stablecoin inflows into exchanges surged to over $2 billion, with traders parking liquidity on the sidelines.\u00a0<\/p>\n

\"Cryptocurrencies,Stablecoin exchange netflow. Source: CryptoQuant<\/p>\n

Historically, such activity reflects \u201cdry powder\u201d ready to rotate into BTC and ETH once a catalyst emerges. At the same time, Bitcoin\u2019s open interest has climbed above $80 billion, near all-time highs, despite price consolidation around $110,000, a sign that leveraged positions are building rather than unwinding.<\/p>\n

The combination of easing macroeconomic pressure and bullish onchain positioning sets the stage for volatility, but the structural bias remains upward. With liquidity primed and sentiment shifting risk-on, Bitcoin may be preparing to carve out a bottom and ignite its next leg higher.<\/p>\n

Related:\u00a0Rare Binance Bitcoin bottom signal fires: Will bulls or bears benefit?<\/a><\/p>\n

Is the Bitcoin bottom in?<\/p>\n

Following the weaker-than-expected NFP print, Bitcoin initially tracked higher but quickly reversed, sliding 1.5% after the New York session open. The drop pushed BTC back below $111,000, after retesting the key supply zone between $112,500 and $113,650. <\/p>\n

These abrupt intraday pullbacks often stem from early long liquidations, with over $63 million erased in the last four hours, alongside potential stop-hunting by market makers capitalizing on crowded positioning before resetting trend direction. <\/p>\n

\"Cryptocurrencies,Bitcoin one-hour chart. Source: Cointelegraph\/TradingView<\/a><\/p>\n

On the one-hour chart, the structure remains constructive. Despite the setback, Bitcoin continues to carve out higher highs and higher lows, a classic sign of an uptrend. Unless BTC decisively closes below $109,500, the short-term bullish structure holds, with the dip looking more like a liquidity sweep than a genuine trend shift.<\/p>\n

Zooming out, the higher time frames tell a more cautious story. With two days left before the weekly close, it is premature to call a confirmed bottom. A decisive close above $112,500 would meaningfully strengthen the case that a base has formed near $107,500. <\/p>\n

\"Cryptocurrencies,Bitcoin one-day chart. Source: Cointelegraph\/TradingView<\/p>\n

Until then, the broader market remains in a transitional phase, balancing between macro-driven optimism and local supply pressures. In short, the lower-timeframe bias remains bullish, but confirmation of a durable bottom rests on the weekly close holding above resistance.<\/p>\n

Related: Bitcoin price ignores major US payrolls miss to erase $113.4K surge<\/a><\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n","protected":false},"excerpt":{"rendered":"Key takeaways: Bitcoin briefly surged to $113,000 before reversing after weaker-than-expected US payrolls data. Onchain flows show $2…\n","protected":false},"author":2,"featured_media":6307,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[138,220,111,139,69],"class_list":{"0":"post-6306","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/6306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=6306"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/6306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/6307"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=6306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=6306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=6306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}