Bitcoin reclaims $87,000 as weak jobs data shifts rate-hike outlook

  • Bitcoin reached an intraday high of $87,128.60 on October 2 before closing at $84,510.80, later reclaiming $87,000.
  • September payroll growth of 29,000 fell below forecasts of 84,000 to 90,000, while unemployment reached 4.2%; the implied October hike probability fell from 66% to 22%.
  • Uniswap rose 0.65% to $9.11, RippleX opened XRPL lending amendments, and Shiba Inu gained 13.5% in September.

Bitcoin reached an intraday high of $87,128.60 on October 2 before closing at $84,510.80, after a weaker-than-expected U.S. jobs report reduced expectations for another Federal Reserve rate hike. September nonfarm payrolls increased by 29,000, below forecasts of 84,000 to 90,000, while unemployment reached 4.2%. Fed funds futures cut the implied probability of an October quarter-point hike from 66% to 22%, and Kalshi showed an 84% probability of a rate hold. Bitcoin had moved above $85,000 on September 30 after softer-than-expected inflation data and was about $86,688 at one point on October 2, with dominance at 58.74%. Uniswap rose 0.65% to $9.11, RippleX advanced native XRP Ledger lending infrastructure, and Shiba Inu gained 13.5% in September.

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