Bitcoin bounced back above $110,000 on Tuesday in volatile trading, lifted by rising expectations that the Federal Reserve will cut interest rates this month, while traders awaited key U.S. jobs data for confirmation.
The world’s biggest cryptocurrency was last up 2% at $110,278.3 as of 02:12 ET (06:12 GMT), after swinging between $107,274 and $109,243 in the session.
Bitcoin rebounds amid Fed easing bets; jobs data awaited Bitcoin has slid nearly 12% since hitting a record high above $124,000 in mid-August, but has found support as markets increasingly price in U.S. monetary easing.
CME FedWatch data showed traders now see an 89% probability the Fed will deliver a 25-basis-point cut at its September meeting.
Fed Chair Jerome Powell last week warned that labor market cooling posed a risk to growth, comments widely interpreted as opening the door to earlier action.
The focus now turns to Friday’s August nonfarm payrolls report, which economists expect will show moderating job gains.
Softer-than-expected data could cement bets on easing and extend Bitcoin’s rebound.
A weaker dollar also buoyed sentiment, with the greenback hovering near multi-week lows against major peers as rate-cut expectations built. Gold scaled fresh highs, underscoring a broader rotation into alternative assets.
Still, Bitcoin’s pullback from August peaks has kept traders cautious.
Trump-backed World Liberty token dips in debut trading The digital tokens underpinning the Trump family’s cryptocurrency venture, World Liberty Financial, slid in value on their first day of trading on Monday. Known as $WLFI, the tokens were initially offered to internal stakeholders before their public release.
The debut saw a notable decline in price following the transition to open markets, reflecting volatility and cautious investor sentiment toward the politically associated token.
Crypto price today: most altcoins rise; $TRUMP declines Most altcoins also saw modest gains tracking the broader sentiment, while Ether edged lower, and $TRUMP declined sharply.
World no.2 crypto Ethereum fell 0.3% to $4,384.98.
World no. 3 crypto XRP rose 2.7% to $2.81.
Solana gained 2.4%, and Cardano added 2.3%, while Polygon advanced 1.7%.
Among meme tokens, Dogecoin rose 1.9%, while $TRUMP dropped 5%.
