Bitcoin has seen a resurgence over the past week, climbing from below $108,000 to as high as $113,000. However, the momentum faced a setback following the release of disappointing U.S. payroll data on September 5. Despite the bearish pressure from the U.S. Nonfarm Payrolls (NFP) report, Bitcoin managed to maintain its position above the psychological level of $110,000. Interestingly, recent analyses suggest that the weak job data could pave the way for a new Bitcoin rally.
Key Points
- Bitcoin price currently stands at around $110,780, showing resilience.
- Weaker-than-expected U.S. job data has raised market concerns, yet Bitcoin remains steady.
- XWIN Research Japan posits that labor market weakness may lead to Fed rate cuts, positively impacting Bitcoin.
- Data indicates an increase in stablecoin reserves, reflecting investor optimism.
- Market participation is broadening, with both whales and retail investors actively reallocating funds.
In-Depth Analysis
According to recent research by market analysis firm XWIN Research Japan, a weak labor market is often associated with poor performances of risk assets, including cryptocurrencies. However, historical data suggests that unstable job figures can also inject new vitality into the crypto market. XWIN outlines two distinct waves of activity:- First Wave occurred between late 2024 and early 2025, where investors anticipated rate cuts from the Fed. Stablecoin reserves surged from $30 billion to $50 billion, indicating preparedness for macroeconomic shifts.
- Second Wave has been observed since mid-2025, with rising unemployment again. Recent stablecoin exchange reserves have hit $58.5 billion, with deposit addresses frequently exceeding 30,000 BTC, peaking near 40,000 BTC.
This phenomenon is not merely accumulation; it reflects broader market participation, as investors mobilize funds in anticipation of easier policies.
Market Impact
In the current economic landscape, weak job data could heighten expectations for Fed rate cuts. This scenario could lead to increased capital flowing into the crypto market, potentially driving Bitcoin prices higher. With rising stablecoin reserves, demand for Bitcoin may significantly increase over the coming weeks.Investment Suggestions
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