Bitcoin Targets $97K After US Jobless Data Shocks Markets - Here’s Why

Forget the Fed's dot plots—today's real monetary policy signal just printed on the unemployment line.

The Catalyst: A Jobs Market That Just Broke

Fresh US jobless data hit the wires, and it wasn't pretty. The numbers shocked traditional markets, sending bond yields tumbling and the dollar into a tailspin. For Bitcoin, it was a green light. The narrative flipped instantly: weak economic data means rate cuts are back on the menu, and fast money is hunting for an inflation hedge that doesn't come with a central bank's baggage.

The $97K Target: More Than Just a Number

Traders are now eyeing the $97,000 level—a psychological and technical barrier that, if broken, would confirm a new bullish macro regime. This isn't just speculative froth; on-chain data shows accumulation from long-term holders is accelerating, while exchange reserves are drying up. The supply squeeze is real, and the fuse just got shorter.

Why This Time Is Different

Past rallies were fueled by retail mania and meme-coins. This move is structurally different. Institutional custody volumes are spiking, and the derivative market is leaning heavily into calls for Q1 2026. The market isn't just betting on a price—it's betting on a paradigm shift, where digital gold finally decouples from the old-world risk-on/risk-off dance.

The Bottom Line

The path to $97K is now clearer. With traditional finance clutching its pearls over a softening economy, capital has one obvious exit: an asset class that operates on its own clock. Wall Street might be fretting over a basis point or two, while the crypto market just got handed its best fundamental catalyst in months. Sometimes, the best thing for a decentralized revolution is a little centralized failure.

Bitcoin is preparing for another potential bounce on the charts, just as fresh U.S. labor data sends mixed signals across financial markets. The combination of technical strength and macro uncertainty is creating a positive  environment for traders.

BTC Holds Firm as Price Targets $96.8K Zone

Bitcoin continues to MOVE inside a tight consolidation range, but the overall structure still supports the idea of one more move to the upside. The price is holding above a support in the low $90,000 region, and there are no signs of a bearish breakdown. Analysts say BTC still has room to push toward the $96,700 to $96,850 area, which aligns with the next  technical extension.

The sideways movement seen over the past few days is normal for this stage of the pattern. Until Bitcoin breaks below support or shows a clear five-wave decline, the outlook for one more high remains intact.

Mixed U.S. Jobless Data Adds New Tension

The latest economic numbers from the United States brought a surprising twist. Initial jobless claims came in at 191,000, well below the expected 220,000. On the surface, this looks like a strong labor signal. However, the previous day’s ADP report showed private payrolls falling by 32,000 — the biggest drop since March 2023.

BREAKING: US initial jobless claims data came in at 191,000

Expectations: 220,000

Yesterday, ADP private payrolls data fell to -32K, which is the largest drop since March 2023.

So despite initial jobless claims data coming lower than expected, the overall labor market is still… pic.twitter.com/dby6jUGSHe

This creates a conflicting picture: jobless claims show stability, while payrolls point toward a weakening job market. Despite the lower-than-expected claims, many economists say the broader trend remains soft, increasing pressure on the Federal Reserve to deliver more rate cuts.

The internet quickly reacted with humor, with one user on X writing, “Jerome’s about to cut rates like a barber on a Friday.”

Why Weak Labor Momentum Supports Bitcoin

A weakening labor market often encourages the Federal Reserve to lower interest rates. For Bitcoin, that’s typically a positive development. Lower rates add liquidity to markets, weaken the U.S. dollar, and improve investor appetite for risk assets. crypto has historically performed well during periods of monetary easing, and traders are already positioning for the possibility of deeper cuts.