Bitcoin climbs toward $87,000 as weak jobs data cuts Fed hike odds

  • Bitcoin rose toward $87,000 after weak U.S. jobs and softer inflation data reduced expectations for an October Federal Reserve rate hike.
  • September payrolls increased by 29,000 versus forecasts of 84,000-90,000, unemployment reached 4.2%, and futures markets cut hike odds from 66% to 22%.
  • Bitcoin briefly reached about $87,086 before retreating to roughly $85,300, while Treasury yields remained above 5% and resistance persisted near $87,000-$87,500.

Bitcoin climbed toward $87,000 after weak September employment data sharply reduced expectations for another Federal Reserve rate increase at the Oct. 27–28 meeting. The economy added 29,000 jobs versus forecasts of 84,000-90,000, unemployment rose to 4.2%, and futures markets cut October hike odds from 66% to 22%. Softer inflation also supported the shift, although the 10-year Treasury yield stayed above 5%, the dollar-yen pair remained near 157, and Bitcoin continued to face resistance around $87,000-$87,500.

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