BTC Resists Closure as Essential U.S. Economic Figures Decline: Could NFP Impact BTC USD Value?

The world of digital currency appears to flourish amid disorder, surprising all expectations. Just when it seemed the optimistic momentum had faded, Bitcoin USD made an impressive resurgence. Trading at over $120,000 at the time of writing, Bitcoin has regained its July 2025 peaks and achieved a two-month high. Bulls are firmly in charge and seem intent on driving Bitcoin USDT even higher today.

On Coingecko, the price breakout isn’t confined to Bitcoin alone. A selection of the best cryptocurrencies to acquire are experiencing gains, pushing the total trading market capitalization above $4.1 trillion. Currently, Bitcoin holds over +56% of the total market share. On the other hand, Ethereum, positioned second, has receded to just +12% of the total market cap.

(Source: Coingecko)

According to data from Coinglass, traders are rushing to position themselves for a potential price breakout this Uptober. In just the last 24 hours, shorts worth over $249 million were liquidated, affecting more than 147,000 traders and pushing total liquidations beyond $395 million. The largest rekt was a $6.5 million BTC USD short position liquidated on Hyperliquid.

(Source: Coinglass)

EXPLORE: 20+ Upcoming Cryptos to Surge in 2025

Is Bitcoin USD on the Verge of New All-Time Highs?

From a technical standpoint, the upward trend remains strong and is likely to persist. Since Wednesday, BTC bulls have established a robust foundation during two days of increased activity, with buyers stepping in and momentum gathering positively.

On the daily chart, initial price floor is situated around $118,000, close to the highs of September. A deeper support level exists at the October 1 lows of nearly $114,000. Should Bitcoin USD maintain its position above this area and buyers capitalize on any dips, the likelihood of surpassing $125,000 and achieving new all-time highs this October will increase.

An upward movement would extend last year’s gains over +100%. BTC has already surged more than 195.51M% from its historical lows and shows no signs of slowing down as traders and institutions keep acquiring assets.

Investor confidence remains high, as the long/short ratio among top traders on Binance has exceeded 1.7. Nevertheless, the ratio dipping below 1 among elite accounts on Binance and OKX raises some concerns. In contrast, despite Bitcoin’s ascent, inflows into spot exchanges are diminishing.

(Source: Coinglass)

Selling pressure has escalated over the last 12 hours. During the late New York trading session on October 2, net Bitcoin flows from significant spot exchanges soared to over $295 million, with outflows exceeding $1 billion.

EXPLORE: 9+ Best High-Risk, High-Reward Cryptos to Invest In 2025

Will the Ongoing U.S. Government Shutdown and NFP Data Propel the Bitcoin Price?

Ultimately, the performance of Bitcoin today, and whether it convincingly surpasses previous all-time highs, relies more on fundamental triggers than on candlestick patterns.

Today, October 3, is the third day of a partial U.S. government shutdown, creating uncertainty throughout Wall Street. Investors are turning to tangible assets like Bitcoin and gold amid the upheaval.

Coincidentally, over the past two days, BTC USD soared past $118,000 (the highs of September) and finished above $120,000, reclaiming its July 2025 territory for digital gold.

As long as Congress remains gridlocked over the budget, the stalemate will likely continue, potentially sparking an even stronger BTC USD surge. Economic skepticism has led to the suspension of non-essential federal services, affecting hundreds of thousands of workers and delaying critical data releases from the Bureau of Labor Statistics.

The upcoming Non-Farm Payrolls (NFP) report adds complexity to the situation. While it has been postponed today, if it exceeds expectations, it could limit recent gains in Bitcoin USD by indicating a more robust economy.

BREAKING: U.S. Jobs Report Halted

•No NFP Today: The U.S. Bureau of Labor Statistics has stopped the Non-Farm Payrolls release due to the ongoing government shutdown.

•Recent Fed Action: Just two weeks ago, the Federal Reserve reduced rates in response to weak job growth and… pic.twitter.com/SomVo7Wyp0

— Crypto Money Mantra (@CryptoMoneyMntr) October 3, 2025

Economists predict an addition of 52,000 jobs in September, a notable recovery from August’s figures of 22,000 (revised to 18,000). Unemployment is expected to remain at +4.3%, with average hourly earnings increasing by +0.3%, in line with August’s growth.

The Federal Reserve will examine this data meticulously. A better-than-anticipated NFP report featuring more jobs than expected could dampen hopes for rate cuts, leading the central bank to maintain rates rather than reduce them in late October.

No NFP Report Today:

Two weeks following the Fed’s rate cut due to labor trading market weakness, jobs data has been suspended indefinitely due to the government shutdown.

• U.S. labor trading market statistics will remain unpublished by the Bureau of Labor… until the shutdown concludes.

— Capital.com International (@capitalcom) October 3, 2025

Stricter policy may reroute capital away from risk assets such as cryptocurrency, potentially cooling Bitcoin’s momentum in Q4. On the other hand, weaker-than-expected data could bolster the case for cuts, directing more market fluidity toward Bitcoin and enhancing gains, even within leading Solana meme coins.

EXPLORE: 9+ Top Memecoins to Purchase in 2025

The post Bitcoin Defies Shutdown as Key U.S. Economic Data Drops: Will NFP Dent Bitcoin USD Price? appeared first on 99Bitcoins.