Bitcoin’s $116K Drama: Jobs Data, Rate-Cut Bets, and a Fed in Denial 🚀📉

by

Key points:

  • Bitcoin tries to rebound like it’s auditioning for a comeback special, thanks to US jobs data that’s weaker than my morning coffee. ☕

  • BTC clings to life below $116,000 while traders bet on a short squeeze like it’s a Netflix reality show. 🏆

  • Bitfinex sees dip-buying? More like dip-buying in a goldfish bowl. 🐡

Bitcoin (BTC) got rejected at $116,000 like a rejected Tinder profile on Friday’s Wall Street open. Bulls tried to rally from trade-tariff lows, but the market’s more interested in drama than direction. 🎭

Bitcoin bounced like a caffeinated kangaroo after July’s US jobs report—73,000 new hires, a number so low even the economy’s side-eyeing it. 🧑‍🦽

Market analysts are now betting on a Fed rate cut like it’s a game show. “Sure, let’s slash rates,” everyone says, except the Fed, who’s still pretending the labor market is a “go.” 🤡

The Kobeissi Letter, a trading oracle with a flair for the dramatic, warned the US labor market is either “recession-ready” or the data’s been hacked by a third grader. 🕵️♂️

“Unemployment’s rising, and 258,000 jobs vanished—probably eaten by a black hole. Or maybe the government just needs a vacation.”

President Trump, ever the crypto cheerleader, chimed in. Meanwhile, the Fed’s still playing 20 questions: “Are we cutting rates? No. Maybe. If the moon is full.” 🌕

BTC’s price action is now a liquidity-themed scavenger hunt. Traders are eyeing $120,000 like it’s the last slice of pizza at a party. 🍕

🚨Bitfinex’s traders are buying BTC below $115,000 like it’s Black Friday. 🛍️

— TheKingfisher (@kingfisher_btc) August 1, 2025

CrypNuevo, a trader with a knack for nostalgia, compared BTC’s moves to a January déjà vu. Maybe Bitcoin’s just stuck in a time loop. ⏳

Read More

2025-08-01 17:51