FOMC

Bitcoin

Key points:
<ul>
 <li>Bitcoin falls with stocks and gold on stronger-than-expected US jobs data.</li>
 <li>The US dollar index reaches its highest levels in three weeks as jobless claims come in below expectations.</li>
 <li>$110,000 is an increasingly “likely” BTC price target next.</li>
</ul>
Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) looked “likely” to revisit $110,000 on Thursday as macro and geopolitical factors fueled BTC price weakness.
<figure>
 <img alt="Bitcoin Price, Markets, Price Analysis" src="https://s3.cointelegraph.com/uploads/2025-09/0199814e-a02e-7b58-a91e-695ee2e5b5b8" title="">
 <figcaption style="text-align: center;">
 BTC/USD one-hour chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
<h2 id="us-jobless-claims-pressure-risk-assets-across-the-board">US jobless claims pressure risk assets across the board</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> confirmed new local lows of $110,658 on Bitstamp.
US jobless claims data came in below expectations on the day — a sign that labor market weakness may not be as acute as thought.&nbsp;
This caused markets to become less confident about Federal Reserve interest-rate cuts, per data from CME Group’s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow" target="_blank">FedWatch Tool</a>.
<figure>
 <img alt="Bitcoin faces ‘imminent’ $110K retest as US dollar hits three-week high" src="https://s3.cointelegraph.com/uploads/2025-09/01998141-837e-7a1d-a632-a9855f5b9e81" title="">
 <figcaption style="text-align: center;">
 Fed target rate probability comparison for October FOMC meeting (screenshot). Source: CME Group
 </figcaption>
</figure>
“And just like that, initial jobless claims are no longer a worry,” Ryan Detrick, chief market strategist at capital market company Carson Group, wrote in part of a <a href="https://x.com/RyanDetrick/status/1971214207296340410" rel="noopener noreferrer nofollow" target="_blank">reaction on X</a>.
US dollar strength surged as a result, with the US dollar index (DXY) hitting three-week highs while crypto, stocks and gold fell.
<figure>
 <img alt="Bitcoin faces ‘imminent’ $110K retest as US dollar hits three-week high" src="https://s3.cointelegraph.com/uploads/2025-09/01998142-25b0-7d79-97f5-65ba7a65a5d2" title="">
 <figcaption style="text-align: center;">
 US dollar index (DXY) one-day chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
The mood was not helped by uncertainty over the Russia-Ukraine conflict amid reports of Russian jet interceptions over Alaska.
Commenting on risk-asset behavior, trading resource The Kobeissi Letter <a href="https://x.com/KobeissiLetter/status/1971208568801198419" rel="noopener noreferrer nofollow" target="_blank">called</a> the stocks pullback “overdue.”
“Healthy bull markets do not move in a straight line,” it reasoned.
<figure>
 <img alt="Bitcoin faces ‘imminent’ $110K retest as US dollar hits three-week high" src="https://s3.cointelegraph.com/uploads/2025-09/01998143-f27b-7853-83e0-9755803086e5" title="">
 <figcaption style="text-align: center;">
 BTC/USD vs Nasdaq 100 one-day chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
As <a href="https://cointelegraph.com/news/4-reasons-why-bitcoin-failing-copy-all-time-highs-gold-and-stocks" rel="noopener noreferrer nofollow">Cointelegraph reported</a>, stocks and gold had previously been setting record highs.
<h2 id="110-000-make-or-break-for-btc-price">$110,000 make-or-break for BTC price</h2>
On BTC price action, crypto market insight company Swissblock warned that the market “sits in a delicate balance.”
Related: <a href="https://cointelegraph.com/news/biggest-liquidation-of-2025-5-things-bitcoin-this-week" rel="noopener noreferrer nofollow">Biggest long liquidation of the year: 5 things to know in Bitcoin this week</a>
“Bitcoin lost $113K and hovers under $112K: a retest of $110K looks imminent,” it <a href="https://x.com/swissblock__/status/1971197997980713219" rel="noopener noreferrer nofollow" target="_blank">warned</a> X followers in part of a post.
Swissblock argued that BTC/USD needed to reclaim $115,200 to have a shot at revisiting the top of its range. Losing $110,000, on the other hand, would open up the path toward the $100,000 mark.
“$110K = max pain. Likely to be touched, leaving Friday’s options worthless,” it added, referring to the upcoming <a href="https://cointelegraph.com/news/bitcoin-bollinger-bands-tighter-than-ever-107k-max-pain" rel="noopener noreferrer nofollow">$17.5 billion options expiry event</a>.
<figure>
 <img alt="Bitcoin faces ‘imminent’ $110K retest as US dollar hits three-week high" src="https://s3.cointelegraph.com/uploads/2025-09/01998144-956c-7432-8be8-1027c244b1b0" title="">
 <figcaption style="text-align: center;">
 BTC/USD chart. Source: Swissblock/X
 </figcaption>
</figure>
Bullish crypto takes focused on topside exchange order-book liquidity. With markets heavily short, a “squeeze” higher seemed all the more probable.
“Look at the overwhelming short-side dominance in potential liquidations,” trading resource TheKingfisher <a href="https://x.com/kingfisher_btc/status/1971141923025965200" rel="noopener noreferrer nofollow" target="_blank">reiterated</a> in a commentary on proprietary data.&nbsp;
<blockquote>
 “$AVAX short-side is 96.2% of the pending liqs. $ETH at 78.3%. $BTC at 69.4%. This is how liquidations build up. Smart money knows this is magnet for price.”
</blockquote>
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 faces ‘imminent’ $110K retest as US dollar hits three-week high

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Cointelegraph

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