Bitcoin saw a volatile drop below $111,000 following disappointing US jobs data. Gold hit new all-time highs as traders anticipate a $100,000 support retest. The US added 22,000 jobs in August, far below the expected 75,000, causing the US dollar to weaken. Market participants expect the Federal Reserve to cut interest rates on Sept. 17.

Despite the positive implications of the jobs data, Bitcoin’s price reaction was lackluster. Traders are focusing on reclaiming key resistance levels to support, such as the 200-period moving averages. Some predict a drop towards $100,000, while others believe a return to $113,000 support could signal a bullish trend. Risk remains high, and readers should conduct their own research before making investment decisions.

Read more at Cointelegraph.: Bitcoin Dives Back Under $111,000 Despite Nonfarm Payrolls Miss