September U.S. payroll growth exceeded expectations, but rising unemployment dampened rate cut prospects, triggering Bitcoin’s slide toward $85,000 ahead of the Federal Reserve’s December meeting.
U.S. nonfarm payrolls rose by 119,000 in September, beating forecasts of 50,000, while the unemployment rate climbed to 4.4%, a post-October 2021 high. Mixed labor data lowered the odds of a December Federal Reserve rate cut to under 40%, prompting a Bitcoin decline toward $85,000. The conflicting economic signals stirred caution in financial markets as investors reassessed monetary policy expectations.