Bitcoin’s Chaotic Dance: Will It Soar to $185K Amidst Jobless Chaos? 🤔

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Ah, the key takeaways-because who has time for nuance these days?

  • The US Labor Department slashed payrolls by 911,000 jobs in a revision so large it makes one wonder if they were guessing all along. A deep labor market weakness? Or just their ability to count?

  • This bumbling revision somehow strengthens expectations of a Federal Reserve rate cut, even as inflation clings on like an unwelcome houseguest.

  • Bitcoin, that ever-elusive digital darling, might mimic gold’s rally and charge toward new highs in Q4. Or not. Who knows with Bitcoin? 🎢

Bitcoin (BTC), the financial world’s favorite rollercoaster, could be poised for price gains in the coming weeks. Why? Because the US Labor Department decided to revise history, erasing 911,000 jobs from its records for the year ending March 2025. That’s an average of 76,000 phantom jobs per month-phantoms more reliable than your Wi-Fi during a Zoom call.

According to the Kobeissi newsletter (which sounds like a medieval guild but is actually quite modern), these losses were concentrated in consumer-driven sectors. Leisure and Hospitality lost −176,000 jobs, while Trade, Transportation, and Utilities waved goodbye to −226,000. Total private hiring was overstated by 880,000 jobs-a scale of error last seen during the Great Depression or when someone tried to explain NFTs to their grandparents.

If this weren’t enough, last month saw another 258,000 jobs vanish from May and June reports. Yesterday added another 27,000 to the pile, marking the largest two-month revision since 2020. And let’s not forget August’s paltry 22,000-job gain. The data practically gift-wraps a Federal Reserve rate cut at next week’s meeting. 🎁

Gold Has Already Priced It In; Bitcoin May Be Next (Or Not)

Gold, that ancient relic of wealth, has surged 40% this year, leaving the S&P 500 in the dust. Investors are betting that a weakening labor market will force the Fed’s hand, despite inflation stubbornly hovering above 3%. Ah, the optimism of gamblers masquerading as economists!

And what about Bitcoin? Bitwise Strategist André Dragosch summed it up nicely in an X post:

“The Fed hasn’t even cut rates yet-and people are still fading the #bitcoin vs. money supply chart. Major USD stablecoins are already flashing the same signal: macro liquidity is expanding. Bullish for #Bitcoin.”

Bitcoin Thrives in Liquidity Expansions (Or So They Say)

With the Federal Reserve expected to cut rates by 25 basis points in eight days, we’ll witness a first: a rate cut with inflation still smoldering, stocks at record highs, and GDP strong. Clearly, the central bank is choosing unemployment woes over inflation fears, adopting what can only be described as a “dovish but cautious” tone. Perhaps they’re practicing for a poetry slam.

For Bitcoin, the implications could be explosive-or mildly underwhelming. Just as gold rallied months ahead of policy confirmation, Bitcoin’s sensitivity to liquidity cycles might transform this rare policy mix into a catalyst for new highs. Analytics platform Tephra Digital predicts:

“If Bitcoin’s lagged M2 and gold correlations hold, the rest of the year could be very interesting. Charts below point to $167k-185k.”

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2025-09-09 21:15