Bitcoin Climbs to $112K on U.S. Jobs Weakness and Fed Rate-Cut Hopes

Bitcoin jumped to a weekly high of $112,423 as investors brace for U.S. job data that could trigger Federal Reserve rate cuts.

Bitcoin surged 1.4%, climbing to $112,423, its highest point in a week, driven by investor anticipation of the upcoming U.S. August jobs report. Traders are betting that weaker hiring figures could provide the Federal Reserve with enough justification to initiate rate cuts—moves that traditionally benefit high-risk assets such as cryptocurrencies.

The rally underscores Bitcoin’s sensitivity to macroeconomic shifts. With the Fed under pressure to balance inflation control against slowing economic momentum, markets are increasingly pricing in a dovish pivot. Historically, lower interest rates enhance liquidity, driving demand for digital assets like Bitcoin.

While Bitcoin grabbed the spotlight, Ethereum (ETH) and XRP traded flat, signaling that investor enthusiasm remains largely concentrated on the flagship cryptocurrency. Still, analysts warn that should Bitcoin sustain this rally, altcoins could soon follow in a broader upswing.

Meanwhile, Tether, the world’s largest stablecoin issuer, is exploring investments tied to gold-backed assets, diversifying beyond its traditional holdings of U.S. Treasuries. This move highlights a growing institutional trend of linking crypto stability to physical commodities—a potential hedge against volatility.

Market observers caution that the coming week will be crucial. A surprisingly strong jobs report could reverse sentiment, reinforcing the Fed’s hawkish stance and pressuring crypto markets once again. Conversely, weak labor data might accelerate Bitcoin’s push toward new highs, strengthening the narrative of digital assets as alternative stores of value.

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