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Bitcoin holds near $86,100 as Golden Cross signal turns bullish

Bitcoin traded around $86,100 Monday morning, with the broader crypto market up 1.36% and sentiment staying in greed at 68, as a weak jobs report revived risk appetite.

Reported · Written up by our desk · Market Structure

Bitcoin started the week higher, trading around $86,100 on Monday morning, up 1.1% over the prior 24 hours, with market capitalization near $1.73 trillion, according to Decrypt.

The broader crypto market was valued at about $2.94 trillion, up 1.36% on the day, while the Fear and Greed Index stood at 68, still in “greed” territory after stabilizing following a dip from “extreme greed” readings last month, Decrypt reported.

Decrypt pointed to Friday’s U.S. jobs report as the catalyst for the move. Employers added only 29,000 positions in September, versus roughly a third of what economists expected, and the unemployment rate rose to 4.2%.

The report also included downward revisions, with July revised to a loss of 10,000 jobs from a gain of 21,000, and August cut to 133,000 from 162,000, while annual wage growth cooled to 3.0%. Decrypt tied the market’s reaction to the Federal Reserve’s recent rate setting, noting the Fed raised rates by a quarter point to 3.75% to 4.00% on September 16.

Latest closeBitcoin $85,228.88 ▼1.4%

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