{
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    "date": "2025-09-06T20:54:03",
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    "slug": "bitcoin-breaks-out-but-weak-us-jobs-data-breaks-bulls-again-time-to-risk-on-or-off",
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        "rendered": "Bitcoin breaks out, but weak US jobs data breaks bulls again: Time to risk on or off?"
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        "rendered": "<div data-v-43e640e6>\n<p><strong>Key takeaways:<\/strong><\/p>\n<ul>\n<li>\n<p>Bitcoin briefly surged to $113,000 before reversing after weaker-than-expected US payrolls data.<\/p>\n<\/li>\n<li>\n<p>Onchain flows show $2 billion in stablecoin inflows and record open interest near all-time highs.<\/p>\n<\/li>\n<li>\n<p>A weekly close above $112,500 is needed to confirm a lasting market bottom.<\/p>\n<\/li>\n<\/ul>\n<p>Bitcoin (<a href=\"http:\/\/cointelegraph.com\/bitcoin-price\">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<p data-ct-non-breakable=\"undefined\">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<p>For risk assets like Bitcoin, weaker labor market data strengthens the case for Federal Reserve rate cuts. With Fed cut odds at <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\">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<p>Onchain data signals <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/68ba0ccc673055350a1c0cfb-Even-Before-Todays-Jobs-Report%E2%80%94On-Chain-Poised-for-Bull-Run\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/cryptoquant.com\/insights\/quicktake\/68ba0ccc673055350a1c0cfb-Even-Before-Todays-Jobs-Report%E2%80%94On-Chain-Poised-for-Bull-Run\">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<figure><img decoding=\"async\" alt=\"Cryptocurrencies, Bitcoin Price, Markets, United States, Cryptocurrency Exchange, Price Analysis, Market Analysis\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-09\/01991a90-4595-7308-81f5-d5b56bebe69b\" title><figcaption><em>Stablecoin exchange netflow. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>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<p>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<p><a href=\"https:\/\/cointelegraph.com\/news\/rare-binance-bitcoin-bottom-signal-fires-will-bulls-or-bears-benefit\" rel target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/rare-binance-bitcoin-bottom-signal-fires-will-bulls-or-bears-benefit\"><em><strong>Related:\u00a0Rare Binance Bitcoin bottom signal fires: Will bulls or bears benefit?<\/strong><\/em><\/a><\/p>\n<h2>Is the Bitcoin bottom in?<\/h2>\n<p>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<p>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<figure><img decoding=\"async\" alt=\"Cryptocurrencies, Bitcoin Price, Markets, United States, Cryptocurrency Exchange, Price Analysis, Market Analysis\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-09\/01991a85-8773-7702-8cd0-7e9185ca9c69\" title><figcaption><em>Bitcoin one-hour chart. Source: <\/em><a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><em>Cointelegraph\/TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>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<p>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<figure><img decoding=\"async\" alt=\"Cryptocurrencies, Bitcoin Price, Markets, United States, Cryptocurrency Exchange, Price Analysis, Market Analysis\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-09\/01991a8a-73bd-7736-a2c4-6e32663abb4b\" title><figcaption><em>Bitcoin one-day chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n<p>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<p><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-ignores-major-us-payrolls-miss-erase-113-4k-surge\" rel target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-ignores-major-us-payrolls-miss-erase-113-4k-surge\"><em><strong>Related: Bitcoin price ignores major US payrolls miss to erase $113.4K surge<\/strong><\/em><\/a><\/p>\n<p data-ct-non-breakable=\"undefined\" type>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<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>",
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        "rendered": "<p>Key takeaways: Bitcoin briefly surged to $113,000 before reversing after weaker-than-expected US payrolls data. Onchain flows show $2 billion in [&hellip;]<\/p>",
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