Despite the bearish pressure triggered by the US Nonfarm Payrolls (NFP) release, the price of Bitcoin managed to stay above the psychological $110,000 level. Interestingly, the latest analysis suggests that the latest job data could guide the Bitcoin price to a new high.
XWIN mentioned that on-chain stablecoin data offers insight into how this “macro story” could unfold, especially in relation to the cryptocurrency market. The crypto trading firm then highlighted two “distinct waves of activity” that establish the connection between unemployment and crypto market positioning.
The second wave (from mid-2025 to present) has seen unemployment rising again. Similarly, stablecoin exchange reserves recently hit $58.5 billion, while depositing addresses have frequently surpassed 30,000 BTC, with highs near 40,000 BTC.
“This isn’t just accumulation—it reflects broader participation, from whales to retail, mobilizing funds in anticipation of easier policy,” XWIN added.
As of this writing, the price of BTC stands at around $110,780, reflecting no significant changes in the past 24 hours. According to data from CoinGecko, the market leader is up by almost 3% in the last seven days.
