Bitcoin Holds Steady at $110K as Traders Await Fed; Rate Cut Impact in Doubt

Bitcoin traded flat around $110,000, with minimal momentum as investors turned their attention to the Federal Reserve’s upcoming interest rate decision.

The cryptocurrency edged up just 0.44% to $111,074, holding in a narrow range despite August’s unexpectedly soft US jobs data. Nonfarm payrolls rose by just 22,000—far below the forecast 75,000—typically a bullish signal for risk assets like Bitcoin, as it raises the likelihood of Fed easing.

Market pricing now reflects a 100% chance of a rate cut at the September 17 meeting, most likely by 25 basis points. Yet the muted price action suggests the move may already be factored in.

According to Rachael Lucas, crypto analyst at BTC Markets, “While the jobs report reinforced dovish expectations, institutional profit-taking and sluggish ETF inflows have limited upside momentum.” As a result, Bitcoin remains range-bound, with traders questioning whether a Fed cut will be enough to reignite the rally.