Bitcoin Topped $87K as Weak U.S. Jobs Data Fuelled Friday's Rally

By Kevin · 2026-10-03 · News

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

The U.S. added just 29,000 jobs in September, far below forecasts
Unemployment rose to 4.2%, from 4.1%
Bitcoin briefly hit about $87,200, then traded near $86,700
Weaker data eased rate-hike fears and pushed bond yields lower

What the jobs report showed

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.

Why bitcoin rallied

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.

A key level

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.

Important context

These are reported prices from October 2, not live quotes. Markets often move sharply after big data releases, and early gains can reverse quickly.

What to watch next

Bond yields: a sustained fall would give bitcoin more room to climb.
The $87,000 level: a clean break and hold above it would be a strong signal.
The Fed: comments from officials over the coming days will shape rate expectations.
ETF flows: continued inflows would add support to the rally.

The bottom line

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.