As soon as the non-farm payroll data came out, $SAND the crypto market immediately went wild! $BTC Bitcoin surged all the way to 87,000, and Ethereum $ETH also held above 2,750. But whether it can hold on depends on tonight.
First, look at how explosive the data is: U.S. September non-farm payrolls increased by only 29,000, while the market had expected 84,000 — nearly three times less! The unemployment rate also rose from 4.1% to 4.2%. In plain terms, the labor market is cooling much faster than expected, and the probability that the Fed will stay on hold in October has jumped to 85%.
How did the market react? Bitcoin rose straight from around 85,000 to 87,000, up more than 3% intraday, and is now fluctuating around 86,700. Ethereum also broke above 2,750 dollars, rising nearly 3% in 24 hours. This shows the market is front-running the logic of “weak data → no rate hike → bullish for risk assets.”
So can it hold tonight? The key is these two levels:
For Bitcoin, 87,000 is the focal point. One trader put it very bluntly: if the daily chart breaks above 873, then 90,000 is within reach; if it fails to hold, it will likely range back and forth between 87,000 and 82,500. In short, they do not expect a sharp drop. Right now, 86,000 is short-term support, and 87,300 is resistance.
Ethereum is following Bitcoin. If 2,750 holds, the next target is 2,800. If it falls back, 2,650 is the floor.
My view: with the data this weak, the pressure for rate hikes has clearly eased, so short-term bullish sentiment has the upper hand. But note that ETF inflows have recently turned into outflows, institutions are reducing positions and taking profits, and short-term speculative funds are stepping in to take the other side. So don’t chase highs blindly. Whether 87,000 can truly hold will still depend on the money flow after U.S. stocks open later tonight. In one sentence: short-term bullish, but don’t go all in; just watch the 873 level closely. #比特币升至8.5万美元附近 #NEAR跌至约4.70美元较日高跌逾14% #比特币站上8.6万美元涨2.99% #以太坊基金会主网推出zkAPI
First, look at how explosive the data is: U.S. September non-farm payrolls increased by only 29,000, while the market had expected 84,000 — nearly three times less! The unemployment rate also rose from 4.1% to 4.2%. In plain terms, the labor market is cooling much faster than expected, and the probability that the Fed will stay on hold in October has jumped to 85%.
How did the market react? Bitcoin rose straight from around 85,000 to 87,000, up more than 3% intraday, and is now fluctuating around 86,700. Ethereum also broke above 2,750 dollars, rising nearly 3% in 24 hours. This shows the market is front-running the logic of “weak data → no rate hike → bullish for risk assets.”
So can it hold tonight? The key is these two levels:
For Bitcoin, 87,000 is the focal point. One trader put it very bluntly: if the daily chart breaks above 873, then 90,000 is within reach; if it fails to hold, it will likely range back and forth between 87,000 and 82,500. In short, they do not expect a sharp drop. Right now, 86,000 is short-term support, and 87,300 is resistance.
Ethereum is following Bitcoin. If 2,750 holds, the next target is 2,800. If it falls back, 2,650 is the floor.
My view: with the data this weak, the pressure for rate hikes has clearly eased, so short-term bullish sentiment has the upper hand. But note that ETF inflows have recently turned into outflows, institutions are reducing positions and taking profits, and short-term speculative funds are stepping in to take the other side. So don’t chase highs blindly. Whether 87,000 can truly hold will still depend on the money flow after U.S. stocks open later tonight. In one sentence: short-term bullish, but don’t go all in; just watch the 873 level closely. #比特币升至8.5万美元附近 #NEAR跌至约4.70美元较日高跌逾14% #比特币站上8.6万美元涨2.99% #以太坊基金会主网推出zkAPI
