Bitcoin closed the third quarter up 44% — its best quarter since Q1 2024 — while Ethereum rose 70.9%, its strongest performance since Q1 2021. And three labor-market data points this week confirm that strength: ADP jobs at 90,000, initial jobless claims at 197,000 (below 200,000 for the first time in weeks), and the Chicago PMI at 58.8 versus the expected 51.2 — which together make it likely that Friday’s Non-Farm Payrolls (NFP) report will lean toward the upper end of the 60,000–100,000+ range. The impact of the higher Personal Consumption Expenditures (PCE) price index on Wednesday faded to $85,500 intraday, as the 10-year Treasury yield stayed near 5.3% and the U.S. Dollar Index (DXY) rose to 101.81. Citi raised its 12-month Bitcoin target to $113,000 based on an investment-flows thesis supported by long-term holders (LTH), whose supply hit a record high of 80%. Spot Bitcoin ETFs saw inflows of $6.34 billion, reversing the $5 billion outflows in Q2. Micron beat expectations and guided its outlook for Q1 2027 to $61.5 billion versus $57 billion.
Bitcoin gives back PCE jump losses as the 10-year yield stays near 5.3%
Bitcoin jumped