Bitcoin News Today: Bitcoin Rises on Weak Jobs Data and Fed Rate Cut Hopes

The cryptocurrency market has rebounded in late July and early August 2025, fueled by weaker-than-expected U.S. economic data and growing optimism around potential Federal Reserve rate cuts. Bitcoin surged past $115,000 as the U.S. Dollar Index (DXY) dropped to 98.50 amid weak nonfarm payroll data and political uncertainty. The July jobs report added only 73,000 positions—well below forecasts—while previous months' figures were revised downward by over 250,000. Leadership changes at key economic agencies, including the resignation of Fed Governor Adriana Kugler and the dismissal of the Bureau of Labor Statistics Commissioner by President Trump, further deepened market uncertainty [1].

The weakening U.S. dollar environment has historically supported alternative assets like Bitcoin, and this trend continued as the price rebounded from a low near $112,000 to a level close to the 50-period EMA at $115,672 [1]. On technical indicators, the RSI moved from the oversold zone to a neutral level of 50.84, signaling reduced selling pressure and potential for further gains. If Bitcoin breaks above the EMA, it could target the $118,000 resistance level observed during late July highs [1].

Bitcoin’s inverse relationship with the DXY became more pronounced as capital flowed into the crypto market amid expectations of Fed-driven monetary easing. Ethereum and XRP also posted gains, aligning with historical patterns where a weaker dollar has coincided with stronger crypto performance [1]. The broader market responded positively, with increased optimism and rising asset prices.

Meanwhile, SUI has been consolidating within a key support range of $2.79–$2.63 following $14 billion in decentralized exchange (DEX) volume, indicating potential accumulation. Analysts view this as a strategic accumulation zone, and a successful defense of the trendline could signal the continuation of an upward move [2]. SUI has also broken out of a long-term symmetrical triangle and completed a retest of the breakout level, showing strong bullish momentum. Institutional interest in SUI is growing, with Mill City Ventures launching a $450 million private placement to invest in a SUI treasury strategy, highlighting increasing confidence among major market participants [2]. However, caution is warranted, as SUI has declined by 16.16% over the past seven days, and its 24-hour gain of 2.73% suggests persistent volatility [2].

Despite the positive momentum, the broader market remains sensitive to macroeconomic developments. If the Fed follows through on rate-cut expectations and the DXY continues to trend lower, the outlook for Bitcoin and other cryptocurrencies remains constructive [1]. However, the sustainability of the current rally will depend on both monetary policy direction and on-chain activity in the coming weeks.

Bitcoin initially closed at a record high of $120,198 in mid-July but ended the month at $116,491 [1]. It faced a sharp pullback later in the month due to rising U.S. tariffs and weak jobs data [2]. The market continued to experience turbulence in early August as Bitcoin fell below $115,200 amid U.S. tariff concerns and profit-taking, triggering $630 million in crypto liquidations [3].

Source:

[1] title1.............................(https://coinedition.com/us-dollar-index-dxy-plunge-pushes-bitcoin-to-115000-as-fed-rate-cut-speculation-heats-up/)

[2] title2.............................(https://coinedition.com/sui-enters-strategic-accumulation-zone-dex-volume-hits-14-billion/)

[3] title3.............................(https://www.msn.com/en-in/money/markets/bitcoin-slips-below-115200-as-us-tariffs-rattle-markets-ethereum-solana-dogecoin-fall-up-to-8/ar-AA1JHIZb)