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Bitcoin edges toward $87,000 as weak jobs data cuts Treasury yields

BTC/USD reached about $87,229 on Bitstamp, just below new eight-month highs, while September nonfarm payrolls came in at 29,000 jobs versus 84,000 expected.

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Bitcoin rose toward $87,000 after weaker-than-expected September payrolls pushed Treasury yields lower, a move that Cointelegraph linked to reduced expectations for Federal Reserve rate hikes.

TradingView data cited by Cointelegraph showed BTC/USD hitting $87,229 on Bitstamp, staying just shy of new eight-month highs, as order-book resistance prevented the token from reaching new macro peaks.

Cointelegraph also reported that September nonfarm payrolls added 29,000 jobs, below the 84,000 forecast, and that August’s figure was revised down from 162,000 to 133,000.

Alongside crypto, Cointelegraph said U.S. stocks rose at the Wall Street open, with the S&P 500 up 1.0% and the Nasdaq Composite up 1.8%.

Latest closeBitcoin $84,851.50 ▲0.0%|S&P 500 7,651.54 ▼0.2%|Nasdaq Comp. 26,861.06 ▲0.2%

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