U.S. September Payrolls Miss Forecasts; Bitcoin Tops $86,000
AI Market Summary
U.S. September payrolls materially missed expectations and prior months were revised lower, with unemployment rising to 4.2%, sharply reducing perceived odds of an October Fed hike. The resulting decline in rate-tightening expectations supports risk assets; crypto is reacting positively, with total market cap above $3T and Bitcoin near recent highs. Near-term focus is on how softer labor data reshapes rates and liquidity expectations.
Impact level
● High
Affected assets
BTC/USDT-0.44%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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Odaily Planet Daily reports that U.S. nonfarm payrolls rose by 29,000 in September, well below the 84,000 consensus estimate. The prior two months were revised down by a combined 60,000, and the unemployment rate climbed to 4.2%. Markets also repriced the policy outlook, with the implied probability of a Federal Reserve rate hike in October sliding to about 14% from roughly 70% earlier this week.
Bitcoin was last quoted at $86,152, around 1.4% below its September peak of $87,354, after touching an intraday high of $87,173. Total crypto market capitalization has moved above $3 trillion, up 2.5% over the past 24 hours, while Bitcoin's dominance stands at 59.1%. (Decrypt)
