Bitcoin Gains Strength As Job Market Falters

While the American economy wavers, bitcoin surprises with its unexpected strength. On October 2, the crypto nearly touched 119,451 dollars, reaching its highest level since mid-August. This surge, far from being anecdotal, fits into a tense macroeconomic context, marked by a deterioration in the job market. For investors, economic weaknesses fuel hopes for a monetary shift, giving momentum back to risky assets.

Bitcoin close to the peaks

The main catalyst for Bitcoin’s latest bullish push is related to the American job market, as many evaluated a 70 % chance of a rebound toward new highs.

Indeed, private employment figures in the United States came in well below expectations, with job creations far under the 45,000 forecast for September. This statistical surprise, far from scaring crypto investors, instead fueled hopes for short-term monetary easing.

“Bitcoin is trying to breakout from its monthly range already on the first day of October,” summarized analyst Rekt Capital on X, revealing the market’s desire to initiate a technical breakout dynamic right at the start of the month.

#BTC

Bitcoin is trying to breakout from its Monthly Range already on the first day of the new month of October$BTC #Crypto #Bitcoin pic.twitter.com/nDT0gbdlvn

— Rekt Capital (@rektcapital) October 1, 2025

Here are the concrete elements that fueled this bullish movement :

• The BTC price reached 119,451 $, nearly its highest level since August 17 last ;

• The American private employment figures, published on October 1,^st were significantly below expectations, fueling the hypothesis of an economic slowdown ;

• The CME Group’s FedWatch tool indicates that markets mostly anticipate a 0.25% rate cut by the Federal Reserve at its October meeting.

Trader Jelle praised a price action “that goes through resistance as if it didn’t exist,” highlighting the strength of the movement.

According to Daan Crypto Trades, the 112,000 $ level now constitutes a strategic support, whose maintenance would be crucial to validate the current bullish potential.

$BTC Made its way towards the top of the channel/bull flag and is attempting a break out.

The $112K is a key short term support going forward. Ideally don't want to see price re-visit that.

Up to the bulls to take it from here, a proper breakout & some daily closes above the… https://t.co/WIEDjawZrq pic.twitter.com/z7MmiCJtBD

— Daan Crypto Trades (@DaanCrypto) October 1, 2025

In sum, a slowing American economy means, in the minds of crypto investors, potential capital flows toward alternative assets such as bitcoin. This reading, combined with favorable technical signals, explains the current breakout attempt.

The US shutdown ignored by investors

While the American executive is facing a budget deadlock that partially paralyzes the federal administration, the crypto market shows remarkable indifference. While comparable episodes in the past had triggered strong reactions, bitcoin seems this time to ignore a context usually conducive to volatility.

In a note published in its newsletter “Asia Color”, the trading company QCP Capital clearly called this shutdown a “non-event.” It explains that “essential services continue to operate, income effects are limited by deferred payment mechanisms, and previous episodes did not hinder risk assets.”

This analysis finds an echo in the simultaneous evolution of other markets. American stock indices, such as the S&P 500 and Nasdaq, opened slightly higher, while gold consolidated its recent records. Even without direct public intervention, markets have incorporated the idea that the current shutdown does not present an immediate systemic risk.

Even better, QCP Capital recalls that in 2018, during a previous prolonged shutdown, the S&P 500 ended the period with a 10 % increase, emphasizing that these institutional turbulences can on the contrary create buying opportunities.

This new market stance towards American political crises could mark a form of maturity or an evolution in investors’ arbitrations. For bitcoin, this means that government shutdowns no longer automatically act as brakes on risk-taking. In the medium term, this relative decoupling could strengthen BTC’s perception as a resilient asset against exogenous shocks.