Rachael Lucas, cryptocurrency analyst at BTC Markets, said: "The weak US jobs report does raise expectations that the Federal Reserve will take a more dovish stance, which would normally support risk assets such as bitcoin. However, the market has digested some degree of policy easing. At the same time, we are seeing institutional investors taking profits, while ETF flows have remained relatively flat. Bitcoin resistance is at $113,400, with further resistance at $115,400 and $117,100. Breaking through these resistance levels indicates that the market has digested the recent selling pressure and is ready to retest the highs."
Vincent Liu, chief information officer at Kronos Research, also said bitcoin prices were likely to remain subdued even if the Federal Reserve decided to cut rates. "The rate cut may reflect a weak economy, while persistently high inflation and cautious risk sentiment limit risk appetite. Without stronger ETF inflows or real liquidity expansion, $120,000 and above will remain an insurmountable hurdle."
Analysts: The market has digested a certain degree of policy easing, and interest rate cuts cannot drive bitcoin to rebound beyond $120,000
2025-09-08 04:34:29
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