Bitcoin rebounded above $110,000 in volatile trading on Tuesday, buoyed by growing expectations that the Federal Reserve will cut interest rates this month, while traders awaited key U.S. jobs data for confirmation.

As of 02:12 ET, the world's largest cryptocurrency rose 2% to $110,278.3, having fluctuated between $107,274 and $109,243 during the trading session.

Bitcoin Rebounds on Fed Rate Cut Expectations; Jobs Data Awaited
Since reaching an all-time high above $124,000 in mid-August, Bitcoin has fallen nearly 12% but has found support as expectations of easing U.S. monetary policy grow.

Federal Reserve Chairman Jerome Powell warned last week that a cooling labor market poses risks to economic growth, comments widely interpreted as opening the door to earlier action.

Attention now turns to Friday's August non-farm payroll report, which economists expect to show slowing job growth.

A weaker-than-expected reading could reinforce rate cut expectations and extend Bitcoin's rally.

A weaker dollar also boosted market sentiment, hovering near multi-week lows against major currencies as expectations of rate cuts grew. Gold climbed to a new high, highlighting a broader rotation into alternative assets.

However, Bitcoin's pullback from its August peak kept traders cautious.

Trump-backed World Liberty Tokens Drop on First Day of Trading
The digital tokens of World Liberty Financial, the Trump family's cryptocurrency project, declined in value on their first day of trading on Monday. The tokens, called $WLFI, were initially offered to internal stakeholders before being publicly released.

The significant drop in price on their first day of trading after moving to the public market reflects the volatility and investor caution facing politically-related tokens.

Cryptocurrency Prices Today: Most Altcoins Gain; $TRUMP Falls
Most altcoins also saw modest gains in line with broader sentiment, while Ether (ETH) saw a slight decline, with $TRUMP falling sharply.

Ethereum, the world's second-largest cryptocurrency, fell 0.3% to $4,384.98.

XRP, the world's third-largest cryptocurrency, rose 2.7% to $2.81.

Solana rose 2.4%, Cardano gained 2.3%, and Polygon added 1.7%.

Among meme-related tokens, Dogecoin rose 1.9%, while $TRUMP fell 5%.