Dollar Surges as Bitcoin Dips Below $111K Following Strong US Jobs Data – Bull Market at Risk?

Robust US employment figures released this week sent financial markets into flux, with initial jobless claims falling by 14,000 to 218,000 (two-month low) and Q2 GDP growth revised up to 3.8%. This economic strength propelled the dollar to a three-week high while pushing Bitcoin below $111,000, as October rate cut probability decreased to 85.5% from 92%.