Bitcoin Price Holds Above $110,000—How Weak Job Data Could Fuel Next Wave

The Bitcoin price has enjoyed some level of resurgence over the past week, starting from below $108,000 to as high as $113,000. However, the premier cryptocurrency’s progress hit a stumbling block following the release of weaker-than-expected United States payrolls data on Friday, September ￰0￱ the bearish pressure triggered by the US Nonfarm Payrolls (NFP) release, the price of Bitcoin managed to stay above the psychological $110,000 level. Interestingly, the latest analysis suggests that the latest job data could guide the Bitcoin price to a new ￰1￱ Shift To Kickstart Next BTC Price Rally? In a Quicktake post on the CryptoQuant platform, market analysis firm XWIN Research Japan explained how weak labor data in the US could see the Bitcoin price embark on its next bullish ￰2￱ to the analytics firm, history shows a paradox despite rising unemployment often linked to weak performances by risk assets, including ￰3￱ Reading: Bitcoin Bull Run Nears Its Climax: Cycle Peak Indicates 95% Completion XWIN mentioned that on-chain stablecoin data offers insight into how this “macro story” could unfold, especially in relation to the cryptocurrency ￰4￱ crypto trading firm then highlighted two “distinct waves of activity” that establish the connection between unemployment and crypto market ￰5￱ the first wave (between late 2024 and early 2025), investors expected the Federal Reserve (Fed) to cut interest rates as the labor market weakness first ￰6￱ flowed into exchanges with the surge in stablecoin reserves from $30 billion to $50 billion, showing the investors’ preparedness for a macroeconomic ￰7￱ second wave (from mid-2025 to present) has seen unemployment rising again.

Similarly, stablecoin exchange reserves recently hit $58.5 billion, while depositing addresses have frequently surpassed 30,000 BTC, with highs near 40,000 BTC. “This isn’t just accumulation—it reflects broader participation, from whales to retail, mobilizing funds in anticipation of easier policy,” XWIN ￰8￱ to XWIN, the thinking is that the rising unemployment in the United States could be linked to stronger expectations of Fed rate ￰9￱ more capital stored in stablecoins on exchanges, ready to buy more coins, the weak jobs data could be the foundation for a fresh rally for ￰10￱ Price At A Glance As of this writing, the price of BTC stands at around $110,780, reflecting no significant changes in the past 24 ￰11￱ to data from CoinGecko, the market leader is up by almost 3% in the last seven ￰12￱ Reading: Safe Haven Split: Bitcoin-Gold Correlation Turns Negative For First Time In 6 Months Featured image from iStock, chart from TradingView