Bitcoin climbed past $85,000 as shorts closed. Will buyers stay after the jobs report?
Traders scaled back bets on another Federal Reserve hike as the U.S. economy added just 29,000 jobs and unemployment rose to 4.2%, officials said.
- Bitcoin rose 0.42 percent to $85,206 on Friday, October 2, 2026, the day the U.S. economy added just 29,000 jobs against a 90,000 forecast, triggering a liquidation wave that pushed the price toward $86,000.
- Softer-than-Expected payroll data shifted Federal Reserve rate expectations dramatically; markets priced an 18 percent October rate-hike probability down from 70 percent a week earlier, easing pressure on the central bank to tighten further.
- CoinShares reported $3.55 billion in digital-asset inflows for the week to September 29, including $2.52 billion into Bitcoin funds, following a nine-day streak before a $148.7 million outflow on September 30.
- Short sellers faced forced covering as Bitcoin surged, with liquidation data from exchanges showing incomplete but significant position closures, though analysts noted $82,000 as a downside marker and $87,500 as a squeeze-acceleration level.
- Citi raised its 12-month Bitcoin target to $113K and Ethereum to $3,028, citing ETF inflows and regulatory tailwinds, yet sustained momentum depends on Treasury yields remaining stable as the short-squeeze dynamics unwind.
22 Articles
22 Articles
The weak US labour market report is more than just a slip for the Chief Economist of the Landesbank Baden-Württemberg, Moritz Kraemer. Especially the low wage trend and the downward revisions of the previous months are likely to become a problem for the government.
The job creation in the US disillusioned in September, with only 29,000 new jobs facing an expectation of 84,000, while the unemployment rate rose marginally to 4.2%. This reading gives strength to the members of the Federal Reserve who intend to keep interest unchanged at the next meeting, with the market expectations already adjusting in this sense. The numbers released by the Department of Labour Statistics point to a job creation much below …
Investors are pushing out the most recent interest and inflation concerns on Friday. All indices close in plus and were in some cases even close to record levels during the course of trading.
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