US Employment Figures and Bitcoin USD along with Bond Crypto market Surge Highlight Fed Rate Reductions

BTC USD along with broader markets are preparing for a hectic Thursday filled with economic announcements. Reports including August ADP Nonfarm Employment, Initial Jobless Claims, the ISM Services PMI, and the S&P Global Services PMI are all set to be released. The insights from these reports will influence predictions regarding a potential rate cut by the Federal Reserve in September.

This eagerness is in response to disappointing signals from the labor trading market and a stagnated crypto market and Bitcoin ▼-0.16%. The JOLTS report indicated that job openings dropped to 7.18M in July, falling short of the anticipated 7.38M, marking the lowest level observed since 2021.

“The jobs data indicates a noticeable slowdown in the US labor market,” stated Shaun Osborne, chief currency strategist at Scotiabank. “For the first time since 2021, the number of unemployed individuals in the US exceeds the number of available jobs, which is a significant shift in the perspective,”

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Will BTC USD Achieve New ATHs or Plummet Below $100k? Bond Yields Adjust to Labor Market Weakness

In case you’re tracking from home, here’s what’s expected from the US today:

• August ADP Nonfarm Employment Change (Jobs metric)
• Initial Jobless Claims  (Weekly assessment of layoffs)
• ISM Non-Manufacturing (Services) PMI (Released Wednesday… it wasn’t favorable)
• JOLTS (Job Openings and Labor Turnover Survey), previously indicated as slow

This weak economic data from the US has contributed to reversing a global bond sell-off and left crypto stagnant. The yield on 30-year Treasuries dropped 6 basis points to 4.90%, while UK gilts decreased from 5.75% to 5.60% after reaching highs not seen since 1998.

Andy Brenner, head of international fixed income at NatAlliance, commented that rising layoffs and decreasing job openings “captured my attention, as well as the market’s.”

This resurgence coincides with a rise in global debt issuance, as the UK has issued a database $14B in 10-year gilts. Analysts caution that the new supply alongside persistent inflation might bring back market fluctuation.

In the DeFi sphere, the stablecoin market cap saw a year-on-year increase of 42%, indicating that investors are still keen on hedging against rate-induced fluctuations. Solana and Ethereum’s total value locked each increased by +20% in the last quarter, with smaller chains lagging. This highlights how market fluidity tends to favor blue-chip cryptos and scales during uncertain times.

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Trump’s Tariffs Introduce Another Factor for the Fed

Another important US data point to watch is the payrolls report, which will assess how well the economy copes with Trump’s global tariffs. Analysts believe tariffs have already played a role in the slowdown of manufacturing. Furthermore, President Trump is attempting to remove Fed Governor Lisa Cook, aiming to consolidate US economic authority.

The cost of living in the US is planned to increase even further:

Only 25% of Americans currently feel they have a “good chance” of enhancing their standard of living, the lowest rate in WSJ’s surveys dating back to 1987.

In comparison, this percentage hovered between 50% and 60% for numerous years… pic.twitter.com/gUbnd8zyhi

— The Kobeissi Letter (@KobeissiLetter) September 3, 2025

Roger Hallam of Vanguard highlighted the prevailing tension: “It’s nearly a perfect storm of worries regarding current fiscal policies becoming inflationary, possibly increased global issuance, and insufficient buyer interest.”

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