Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. 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 5.
Despite 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 high. Macro 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 wave. According to the analytics firm, history shows a paradox despite rising unemployment often linked to weak performances by risk assets, including cryptocurrencies. Related Reading Bitcoin Bull Run Nears Its Climax: Cycle Peak Indicates 95% Completion 16 hours ago
XWIN mentioned that on-chain stablecoin data offers insight into how this “macro story” could unfold, especially in relation to the cryptocurrency market. The crypto trading firm then highlighted two “distinct waves of activity” that establish the connection between unemployment and crypto market positioning.
In 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 emerged.Capital flowed into exchanges with the surge in stablecoin reserves from $30 billion to $50 billion, showing the investors’ preparedness for a macroeconomic shift. Source: CryptoQuant
The 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 added.
According to XWIN, the thinking is that the rising unemployment in the United States could be linked to stronger expectations of Fed rate cuts. With 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 Bitcoin. Bitcoin 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 hours. According to data from CoinGecko, the market leader is up by almost 3% in the last seven days. Related Reading Safe Haven Split: Bitcoin-Gold Correlation Turns Negative For First Time In 6 Months 1 day ago The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView