Bitcoin explodes upwards by the hope of a drop in rates

While the American economy vacillates, Bitcoin surprises with its unexpected vigor. This October 2, the crypto came close to the $ 119,451, reaching its highest level since mid-August. This flight, far from being anecdotal, is part of a tense macroeconomic context, marked by a deterioration in the job market. For investors, economic weaknesses feed the hope of a monetary inflection, restoring momentum to risky assets.

Bitcoin close to summits

The main catalyst for the last bitcoin bullish thrust is linked to the American job market, while many of them evaluated a rebound to new heights at 70 %.

Indeed, private employment figures in the United States have fallen well below expectations, with positions of posts far below 45,000 planned for September. This statistical surprise, far from frightening Crypto investors, has, on the contrary, nourished the hope of a short -term monetary relaxation.

“Bitcoin is trying to get out of its monthly range from the first day of October”summed up analyst Rekt Capital on X, revealing the will of the market to initiate a dynamic of technical rupture from the beginning of the month.

Here are the concrete elements that fueled this Haussier movement:

• The BTC price reached $ 119,451, bordering on its highest level since August 17;

• US private employment figures, published on 1^er October, were clearly revealed below expectations, feeding the hypothesis of an economic slowdown;

• The Fedwatch tool of CME Group noted that markets mainly anticipate a 0.25 % drop in rates by the Federal Reserve from its October meeting.

The trader jelle has greeted Price action “Who crosses resistance as if it did not exist”emphasizing the vigor of the movement.

According to Daan Crypto Trades, the level of $ 112,000 is now a strategic support, the maintenance of which would be essential to validate the current bullish potential.

In short, an American economy that slows down, in the minds of crypto investors, with potential capital flows to alternative assets such as bitcoin. This reading, combined with favorable technical signals, is enough to explain the current break of break.

The US Shutdown ignored by investors

While the American executive faces a budget block which partially paralyzes the federal administration, the crypto market display remarkable indifference. While comparable episodes had in the past triggered strong reactions, Bitcoin seems this time to ignore a context, however conducive to volatility.

In a note published in his newsletter “Asia Color”the trading company QCP Capital has clearly qualified This Shutdown of “Non-event”. She explains that “The essential services continue to operate, the effects on income is limited by the deferred payment mechanisms, and the previous episodes have not slowed down the assets at risk”.

This analysis finds an echo in the simultaneous evolution of other markets. The American stock market indices, such as the S&P 500 and the NASDAQ, opened slightly, while gold consolidated its recent records. Even without direct public intervention, the markets have integrated the idea that the current Shutdown has no immediate systemic risk.

Better still, QCP Capital recalls that in 2018, during a previous prolonged Shutdown, the S&P 500 had completed the period with an increase of 10 %, stressing that these institutional turbulence can, on the contrary, create purchasing opportunities.

This new market posture in the face of American political crises could mark a form of maturity or, an evolution in investors' arbitrations. For Bitcoin, this means that government interruptions no longer constitute automatic brakes on risk taking. In the medium term, this relative decorrelation could strengthen the perception of the BTC as a resilient asset in the face of exogenous shocks.