BTC trades around $110,000 as market participants await Friday’s reports for bullish cues.

Bitcoin Steadies Near $110K as Gold Surges Ahead of Fed Jobs Data

Bitcoin (BTC) held near $110,000 Tuesday, even as gold climbed to record highs, reflecting investor caution ahead of anticipated Federal Reserve signals.

Crypto markets recovered modestly after a week of declines. Bitcoin rose 2.7%, while Ether (ETH) remained flat. Other major tokens, including XRP ($2.80), Solana (SOL), and Dogecoin (DOGE, $0.21), gained more than 3%, pushing total market capitalization up 1.8%.

Gold surged to $3,508 per ounce, surpassing its April peak. With a 30% year-to-date gain, gold is outperforming Bitcoin, which has risen roughly 16% in 2025, highlighting strong demand for traditional hedges.

Traders cite Fed Chair Jerome Powell’s Jackson Hole remarks hinting at potential rate cuts and softer U.S. jobs data as key drivers. Investors are increasingly turning to hard assets for protection.

Nick Ruck, director at LVRG Research, said:
“Gold’s rally reflects its role as a hedge against monetary debasement and equity volatility. Bitcoin is emerging as a complementary inflation hedge rather than a competitor.”

Ethereum is showing signs of slowing activity, with daily volumes down since July and a 28% drop in active addresses on-chain. Augustine Fan, head of insights at SignalPlus, noted rotation within digital asset tokens (DATs), keeping majors relatively sidelined:
“DAT inflows peaked and premiums softened. Solana’s TVL rebound has allowed it to decouple from broader market weakness.”

Attention now turns to Friday’s U.S. non-farm payrolls. Economists forecast about 45,000 new jobs, private payrolls near 60,000, and the unemployment rate at 4.3%. A weaker print could reinforce a September rate cut, potentially boosting risk appetite. Until then, crypto markets remain cautious, with options-based downside protection at multi-week highs.

For traders, gold’s surge signals defensive positioning, while Bitcoin’s consolidation shows measured caution. The coming sessions will reveal which asset sets the tone as September—a historically weak month for crypto—gets underway.