NEW YORK, Oct. 3 (CandyPulse) — The jobs report markets were waiting for came in weak, and bitcoin liked what it saw. The world's largest cryptocurrency topped $87,000 on Friday, Oct. 2, briefly reaching about $87,200, after U.S. hiring fell far short of expectations.
Key takeaways
| Measure | Forecast | Actual |
|---|---|---|
| New jobs (September) | About 84,000–93,000 | 29,000 |
| Unemployment rate | 4.1% | 4.2% |
A weaker job market is bad news for workers, but markets read it differently. It makes it less likely the Federal Reserve will raise interest rates, and possibly more likely it holds steady in October.
For weeks, the biggest weight on bitcoin has been high bond yields, with the 10-year Treasury yield near multi-decade highs. When yields are high, safe government bonds compete with riskier assets like crypto.
The weak jobs data sent yields lower, which some analysts called bitcoin's "cleanest catalyst" in weeks. With bonds a little less attractive, money flowed back towards risk.
The move pushed bitcoin through the $85,000 area, where heavy selling had capped rallies, and towards its highest level since January. But the $87,000 zone has been tough resistance for much of the year, and bitcoin slipped back to around $86,700 after the initial spike.
These are reported prices from October 2, not live quotes. Markets often move sharply after big data releases, and early gains can reverse quickly.
A weak jobs report did what weeks of hopeful trading couldn't: it pushed bond yields down and sent bitcoin above $87,000. Whether it can stay there depends on what yields and the Fed do next.
This article is for information only and is not financial advice. Prices are reported figures from October 2, 2026, not live quotes.
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