Bitcoin News

BTC Price Rebounds as Weak U.S. Jobs Data Fuels Rate Cut Hopes

BTC price is looking to reclaim the $116,000 level after the July U.S. Job Data came in far below expectations, raising hopes of a rate cut.
Published by
BTC Price Rebounds as Weak U.S. Jobs Data Fuels Rate Cut Hopes

Highlights

  • The BTC price has bounced from an intraday low of $114,142, briefly touching $115,800.
  • This came on the back of the July job data, which showed that the U.S. added only 73,000 jobs.
  • Traders are again pricing in a September rate cut, with a 67.1% chance of a 25 bps cut.

The BTC price has pared some of its losses from earlier in the day, as it looks to reclaim the psychological $116,000 level. This comes on the back of weak U.S. job data, which suggests that the Fed might have no choice but to cut rates in September.

Advertisement

BTC Price Jumps As U.S. Adds Only 73,000 Jobs In July

TradingView data shows that the flagship crypto had spiked from its intraday low of around $114,100. Bitcoin is now looking to break above $116,000, as part of its recovery from its intraday low.

Source: TradingView; Bitcoin Daily Chart

This BTC price recovery follows the release of weak U.S. job data. U.S. Bureau of Labor data shows that nonfarm payrolls rose to 73,000 in July, way below expectations of 147,000. Meanwhile, the June and May data were revised from 144,000 and 147,000, respectively, to 19,000 and 14,000.

Although the unemployment rate came in at 4.2%, in line with expectations, the nonfarm payrolls data, including the revisions, indicate that the labor market is weakening. As a result, traders are now pricing a Fed rate cut in September, which is a positive for the BTC price.

CoinGape had reported earlier that the September odds for a rate cut had dropped from 63.7% to 39.2% yesterday as the PCE inflation data came in hot. However, the odds have now spiked to 82.1% from 39.2% following the nonfarm payrolls release.

Source: CME FedWatch

A potential September rate cut would be the first cut that the Fed will make since the start of the year, having held rates steady for five straight FOMC meetings. A cut is bullish for the market since it could inject liquidity into the market.

Meanwhile, it would also provide a much-needed bullish catalyst at a time when the Trump tariffs threaten to crash the BTC price and other crypto assets. These crypto prices had fallen to new lows yesterday after the U.S. president signed an executive order on the reciprocal tariffs.

Advertisement

Trump Also Calls For A Rate Cut Again

Following the release of the nonfarm payrolls data, Trump again called for a rate cut. In a Truth Social post, he described the Fed Chair Jerome Powell as a disaster and asked him to drop the rate. He added that the good news is that tariffs are bringing in billions of dollars into the U.S.

Powell and the FOMC look to be at a crossroads at the moment, with inflation on the rise and the labor market weakening. The Fed Chair had said during his FOMC speech that the Trump tariff inflation has just begun, suggesting that inflation could rise higher in the coming months.

However, the labor market, which the Fed has consistently admitted is strong, doesn’t look so strong based on the recent data. As such, the FOMC might have no choice but to lower rates at the next meeting as market participants expect.

Advertisement

Share
Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?

Bitcoin surges above $120K following massive capital inflows into the crypto market in response to…

October 3, 2025
  • 24/7 Cryptocurrency News

Cardano Gets 100 Million User Exposure With Brave Integration, Whales Scoop 70M ADA

Cardano announced its integration with self-custody crypto wallet Brave, which gives native cryptocurrency ADA exposure…

October 3, 2025
  • 24/7 Cryptocurrency News

Japanese Gaming Firm Gumi to Boost Treasury With BTC, XRP After $38M Raise

Japan’s gaming and blockchain leader, Gumi Inc., has revealed plans to strengthen its balance sheet…

October 3, 2025
  • Altcoin News

BNB Leads Crypto Market Rally With Fresh All-Time High, Expert Sees $5000 Upside

BNB, the native cryptocurrency of Binance, has seen a strong 8% upside, hitting a new…

October 3, 2025
  • 24/7 Cryptocurrency News

Billionaire Ray Dalio Calls Bitcoin “Alternative Money” as BTC Profit-Taking Tops $3.7B Amid $120K Rally

Billionaire hedge fund manager Ray Dalio has touted Bitcoin as “alternative money” as it continues…

October 3, 2025
  • 24/7 Cryptocurrency News

Canary Litecoin ETF Delayed Due to Government Shutdown, What’s Next?

The U.S. Securities and Exchange Commission (SEC) has missed its final deadline on the Canary…

October 3, 2025