Bitcoin Drops Below $111,000 Even Though Nonfarm Payrolls Are Missing

The following are key points.

• Bitcoin is disappointed by the volatility surrounding US job data. The result was a drop below $111,000

• BTC’s price drops all of its gains, while gold continues to reach new highs.

• Investors continue to anticipate a $100,000 test of support.

BitcoinBTCThe Wall Street opening was volatile as US employment data came in far below expectations.

Gold breaks record in US labour market “rapidly deteriorating”

The Data of Cointelegraph Markets Pro You can also find out more about the following: TradingView The BTC/USD pair reached new highs in September of $113.400, before falling by almost $3,000 within an hour.

The August print of US nonfarm payrolls (NFP) confirmed that the economy added 22,000 jobs — far fewer than the anticipated 75,000.

As a result of this, the US dollar lost strength and gold reached new highs.

Participants in the market agreed, as they reacted to the news, that the Federal Reserve would be a major tailwind. cutting interest rates The meeting was held on Sept. 17.

CME Group data FedWatch Tool It is important to note that such a result could occur.

“This marks the 2nd lowest jobs report number since July 2021,” The Kobeissi Letter, written as part of an article on trading resources thread on X. 

“The labor market is rapidly deteriorating.”

Kobeissi also noted that previous month’s job numbers had been reduced.

“The labor market is far worse than you think: Not only was June’s jobs number negative, but the US economy lost -357,000 full time jobs in August,” founder Adam Kobeissi added.

Bitcoin prices double on $100 dip

The BTC market showed a noticeably lackluster response despite the NFP’s positive implications for Bitcoin.

Related: Bitcoin sets 2024-style bear trap ahead of ‘major short squeeze’: Trader

WhalePanda, a popular market commentator and participant in the discussion, was among those who took note.

Who has banned Bitcoin? pic.twitter.com/iOKhtC7Z3O

— WhalePanda (@WhalePanda) September 5, 2025

Instead, traders looked at key resistances that need to be flipped to support. Daan Crypto Trades is a well-known trader who highlighted moving averages with 200 period simple (SMA), exponential (EMA), and four-hour timeframes.

“The 4H 200MA & EMA are generally seen as a good momentum indicator for the short to mid timeframe trend. These have both acted as resistance for the past few weeks and are now being tested again,” Part of a X Post explained

“This is a very crucial level to reclaim for more upside,” ZYN is a fellow trader agreed The pre-NFP pricing zone is a price area that includes “bulls will be fully back” Return of $113,000 in support.

Ted Pillows reiterated that he expected a decline to $100,000.

“Also, if this level doesn’t hold, BTC could go around $92K-$94K CME gap level,” He warned The day of the event

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.