nfpwatc

🚨 $BTC #NFPWatch — The US Jobs Report Came in Much Weaker Than Expected! 🇺🇸📊

The jobs report on Friday clearly missed expectations. The U.S. economy added only 29,000 jobs in September, versus 90,000 expected.

📉 The unemployment rate rose to 4.2% from 4.1% previously.

August data was also revised downward from 162,000 to 133,000 jobs, while July data was revised into negative territory, with a loss of around 10,000 jobs.

📌 How did the markets read these numbers?

Markets saw the figures as a sign that the U.S. economy started to cool, which could reduce the likelihood of the Federal Reserve raising interest rates.

The probability of a rate hike at the October 28 meeting fell from more than 70% earlier in the week to around 18–25%.

🚀 Bitcoin’s reaction was swift:

After the data was released, $BTC briefly rose above 87,000$, approaching its highest levels in several months, before hitting strong resistance.

But the surprise came later, as BTC pulled back and gave back a large portion of its gains, stabilizing near 85,300$.

📊 Today’s trading range:
🔹 Low: 84,068$
🔹 High: 87,086$
🔹 Current price: around 85,400$

🟡 Gold also rose by more than 1% following the data release.

⚠️ It’s important to note that the intraday reversal doesn’t necessarily give us a clear picture of the trend?

#BTC #NFP #NFPWatc #Bitcoin