Bitcoin (BTC) remains below $112,000 despite the U.S. jobs report showing only 22,000 job additions in August, which was far lower than expectations. This lower figure has increased the probability of a Federal Reserve rate cut, yet BTC has not responded positively as many had anticipated. Instead, the inability of Bitcoin to rise above critical levels suggests a possible deeper sell-off. Analysts noted a significant dip in various job sectors, signaling potential recession. The anticipation of Fed rate cuts has reportedly surged, indicating potential adjustments in financial conditions. However, BTC’s price struggled after briefly rallying on hopes of these cuts and softer yields, indicating heightened bearish sentiment. Technical patterns reveal a double top formation, which typically signals a reversal; failure to regain key support levels puts further downside risk in the spotlight. The volatility of Treasury yields remains an important factor as market dynamics evolve, especially in the face of awaited CPI data that might further complicate the inflation landscape to watch in connection to the Fed's future actions.

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