Bitcoin

Gold

Reserve

Key points:
<ul>
 <li>Bitcoin ignores US jobs data and falls over 2% on the day.</li>
 <li>A high-volume area now comes into play as support, even as analysis sees a BTC price comeback next.</li>
 <li>Gold continues to make headlines by beating crypto and US stocks this bull market.</li>
</ul>
Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="https://cointelegraph.com/bitcoin-price">BTC</a>) fell back under $109,500 after Thursday’s Wall Street open as US jobs data failed to boost crypto.
<figure>
 <img alt="Bitcoin price sinks into ‘critical support’ under $110K in 2% daily dip" src="https://s3.cointelegraph.com/uploads/2025-09/01991556-56a4-767a-afa3-6ec15cd2428d" title="">
 <figcaption style="text-align: center;">
 BTC/USD one-hour chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
<h2 id="bitcoin-fails-to-crack-resistance-in-fresh-dip">Bitcoin fails to crack resistance in fresh dip</h2>
Data from <a href="https://subscription.cointelegraph.com/?_gl=1*enpnlb*_ga*MTE3NDE3MjgzMC4xNzE1NjcwODE1*_ga_53R24TEEB1*MTc0NDcyNDI2NS40MS4xLjE3NDQ3MjQyNjkuNTYuMC45MTY3MzAwMzI." rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP" rel="noopener noreferrer nofollow" target="_blank">TradingView</a> showed BTC/USD losses passing 2% on the day.
Bulls failed to flip the area <a href="https://cointelegraph.com/news/bitcoin-euphoric-phase-cools-112k-key-btc-price-level" rel="noopener noreferrer nofollow" target="_self">around $112,000 to support</a>, and despite US unemployment numbers showing a weakening labor market, downside pressure remained.
“$BTC got rejected from its major resistance level,” popular trader BitBull <a href="https://x.com/AkaBull_/status/1963545772273590691" rel="noopener noreferrer nofollow" target="_blank">confirmed</a> in a post on X.
<blockquote>
 “Until the $114K level is reclaimed on the daily timeframe, every BTC move will just be a bull trap. Also, the longer it'll take BTC to reclaim $114K level, higher the chances of a big correction before reversal.”
</blockquote>
<figure>
 <img alt="Bitcoin price sinks into ‘critical support’ under $110K in 2% daily dip" src="https://s3.cointelegraph.com/uploads/2025-09/01991551-a93f-78c6-8aa4-739a95ef222b" title="">
 <figcaption style="text-align: center;">
 BTC/USDT one-day chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
As <a href="https://cointelegraph.com/news/bitcoin-price-stages-2-week-downtrend-breakout-with-112k-next-target" rel="noopener noreferrer nofollow">Cointelegraph reported</a>, many market participants see a retest of $100,000 support coming in the short term.
On the more optimistic side, crypto market insight company Swissblock flagged “critical support” now lying at $110,000 in the form of an area of high trading volume. Resistance to the upside was thinning, it <a href="https://x.com/swissblock__/status/1963587864635064461" rel="noopener noreferrer nofollow" target="_blank">told</a> X followers on the day.
“Bitcoin is breaking out from the critical zone: a straight slide to $100K was never the base case. The wall resisted, until now,” a post stated.&nbsp;
<blockquote>
 “Above, there is the $113.6K–$115.6K gate. After a pullback, price needs fresh momentum to clear it, then contend with heavy resistance into $118K.”
</blockquote>
<figure>
 <img alt="Bitcoin price sinks into ‘critical support’ under $110K in 2% daily dip" src="https://s3.cointelegraph.com/uploads/2025-09/01991552-2fb9-7f0e-80d7-5b335b74530f" title="">
 <figcaption style="text-align: center;">
 BTC/USD chart. Source: Swissblock/X
 </figcaption>
</figure>
<h2 id="gold-steals-the-show-from-crypto-stocks">Gold steals the show from crypto, stocks</h2>
The macro picture, meanwhile, favored stocks as weaker labor market signals cemented the odds of the Federal Reserve <a href="https://cointelegraph.com/news/btc-vs-very-bearish-gold-breakout-5-things-bitcoin-this-week" rel="noopener noreferrer nofollow">cutting interest rates</a> on Sept. 17.
Related: <a href="https://cointelegraph.com/news/bitcoin-bear-market-in-october-with-50k-bottom-target-analysis" rel="noopener noreferrer nofollow">Bitcoin bear market due in October with $50K bottom target: Analysis</a>
Amid rising inflation, however, trading firm Mosaic Asset was cautious. This month’s cut, it warned, could be the Fed’s only one.
“While odds for a rate cut appear locked in (pending no huge upside surprise in August payrolls), the Fed could still be facing a “one and done” scenario on reducing rates,” it wrote in its latest “<a href="https://www.mosaicassetco.com/p/mosaic-chart-alerts-59f" rel="noopener noreferrer nofollow" target="_blank">Mosaic Chart Alerts</a>” update on the day.&nbsp;
<blockquote>
 “That’s because of evidence that inflationary pressures continue building with inflation-sensitive areas of the capital markets moving higher.”
</blockquote>
<figure>
 <img alt="Bitcoin price sinks into ‘critical support’ under $110K in 2% daily dip" src="https://s3.cointelegraph.com/uploads/2025-09/01991554-2adb-73de-9416-6d9399572068" title="">
 <figcaption style="text-align: center;">
 XAU/USD one-hour chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
Mosaic Asset and trading resource The Kobeissi Letter referenced the <a href="https://cointelegraph.com/news/bitcoin-bulls-still-in-control-btc-price-passes-112k-analysis" rel="noopener noreferrer nofollow">ongoing gold breakout</a>, which has beaten stocks and left crypto flagging in its wake.
“It's a combination of market pricing in higher long-term inflation and more deficit spending,” Kobeissi wrote in an X thread on Wednesday.
<blockquote>
 “And, adding fuel to the fire, deficit spending is flooding the US Treasury market with supply. Gold has become the GLOBAL safe haven asset.”
</blockquote>
<figure>
 <img alt="Bitcoin price sinks into ‘critical support’ under $110K in 2% daily dip" src="https://s3.cointelegraph.com/uploads/2025-09/01991553-83cb-7814-8449-64bdede4f647" title="">
 <figcaption style="text-align: center;">
 Gold futures vs. S&amp;P 500 chart. Source: The Kobeissi Letter/X
 </figcaption>
</figure>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin price sinks into ‘critical support’ under $110K in 2% daily dip

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