Bitcoin Surges Over 5%, Gold Breaches $4,500 as Waller’s Dovish Signal Sparks Market

TradingKeyAuthorBlock Tao
Sep 4, 2026 3:02 AM

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Fed Governor Waller’s dovish shift, supported by weak ADP employment data, fueled a surge in Bitcoin and gold, as markets anticipate rate cuts. Consequently, the US Dollar and Treasury yields face downward pressure. Future trajectories hinge on upcoming non-farm payrolls and CPI data. Positive data could drive gold toward $4,700 and Bitcoin toward $100,000. Conversely, stronger-than-expected economic figures risk invalidating rate-cut expectations, potentially triggering sharp corrections toward support levels at $4,000 for gold and $70,000 for Bitcoin.

TradingKey – Waller’s dovish signal triggered a surge in Bitcoin and gold prices, with subsequent trends depending on this week’s upcoming non-farm payrolls and next week’s CPI data.

On September 4, Bitcoin (BTC) prices jumped over 5%, briefly breaking above $82,000, and have currently pulled back to $80,709; meanwhile, spot gold (XAUUSD) prices briefly breached the $4,500 mark and have currently pulled back to $4,473 per ounce.

Gold Price Chart, Source: TradingView

Yesterday, Federal Reserve (Fed) Governor Christopher Waller delivered dovish remarks in a speech, stating that if inflation continues to cool, he would support keeping interest rates unchanged at the September meeting. As a core figure in the Fed’s hawkish camp, Waller’s dovish shift directly confirmed the trend of a slowing labor market and stabilizing inflation, prompting the market to heavily bet that the Fed is about to open or expand its rate-cut window.

On September 2, U.S. August ADP employment data unexpectedly disappointed, weakening hawkish expectations and sparking a rebound in Bitcoin and gold prices. Now, as rate-cut expectations heat up, both the U.S. Dollar Index and Treasury yields are under pressure, while capital is rapidly flowing into high-elasticity assets and inflation-hedging tools.

The non-farm payrolls report to be released this Friday (September 4) and next Friday’s (September 11) CPI data will determine whether Waller’s dovish stance can translate into concrete rate-cut action at the Fed meeting. If the Fed cuts rates, gold prices are expected to challenge the August high of $4,700, with a potential breakout above this resistance level; meanwhile, Bitcoin is highly likely to break through its current resistance level at $83,000 and rally toward the $100,000 mark.

<a href="https://xpertsstudio.com/can-ai-really-predict-bitcoin-price-or-just-overfit-the-past/" title="Can AI Really Predict Bitcoin Price, or Just Overfit the Past?”>Bitcoin Price Chart, Source: TradingView

However, if neither of these two datasets supports a Fed rate cut—or instead reinforces maintaining high interest rates or even raising them—the high-level consolidation in Bitcoin and gold prices will be broken, leading to a downside correction. Gold’s defensive line lies near $4,000, while Bitcoin’s next support line is around $70,000.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

View OriginalDisclaimer: The content of this article solely represents the author’s personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article’s content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.
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