Bitcoin's recent decline is attributed to a significant revision of U.S. payroll data, with the Labor Department cutting 911,000 jobs from previous reports. This marks the largest revision in history, indicating substantial weakness in the labor market. The revision raises expectations for interest rate cuts by the Federal Reserve despite ongoing inflation concerns. As gold prices have soared due to these macroeconomic shifts, Bitcoin is predicted to follow a similar upward trend, potentially reaching between $167K and $185K by the end of Q4. Analysts argue that Bitcoin's historical sensitivity to liquidity and its correlation with gold suggest an impending price breakthrough, especially with anticipated Federal Reserve action on rates. Thus, market sentiment remains cautiously optimistic for Bitcoin as it positions itself for possible recovery in the coming months.

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