Bitcoin Bulls Bet Big on $112K-Will They Cry or Celebrate?

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Key takeaways: 

  • Dip buyers keep hoarding Bitcoin like it’s the last Twinkie in the apocalypse, but breaking through $112,000? That’s the real boss level.

  • Traders are sweating bullets waiting for Friday’s US jobs report-as if their martinis depend on it. Spoiler alert: they probably do. 🍸

Bitcoin’s (BTC) midweek sprint to $112,600 was about as fleeting as my motivation on a Monday morning-just as quickly as it arrived, sellers crashed the party during the Asian session. By Thursday, BTC was down to $109,329, looking as deflated as my hopes of becoming a millionaire overnight. Blame it on weak ADP private hiring data that shook not only Bitcoin but also all those traditional markets still pretending to be relevant. August added only 54,000 jobs-way short of the 75,000 analysts hoped for, which is basically the job market equivalent of bringing chips to a salad party.

This Friday, the big kahuna of US jobs reports hits the stage. Will it be a Broadway hit or a tragic flop? With unemployment now outnumbering employed folks (7.24 million vs. 7.18 million), economists hope for a modest 80,000 jobs added in August. Meanwhile, some fear the number will be so low it might require a trigger warning.

For Bitcoin traders, a sluggish labor market is as welcome as a cold pizza: it signals that the Federal Reserve might finally cut interest rates. According to the CME Group’s FedWatch tool-because who doesn’t love a good tool-there’s a 97.6% chance the Fed will lower rates by 25 basis points in September. That’s about as certain as my dog stealing my spot on the couch. Traders are pinning their hopes on this becoming the magical spark that lights up BTC’s price like a Christmas tree. 🎄

Bitcoin graph

Even while everyone’s biting their nails over Friday’s jobs data, Hyblock reports that both retail and institutional traders are busy buying Bitcoin in spot markets-as if they believe in fairy tales or maybe just have too much caffeine. ☕

Trader activity

The BTC/USDT liquidation heatmap reveals a tightrope walk between $109,000 and $111,200, with traders cashing out profits near the top like party guests who know when to leave before things get weird. 🕺

Liquidation heatmap

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2025-09-05 06:46