Bitcoin$BTC has climbed back above the $85,000 level as easing U.S. Treasury yields provide some relief to risk assets ahead of Friday’s closely watched Nonfarm Payrolls (NFP) report.
BTC$BTC briefly pushed above $85,500, after softer-than-expected U.S. PCE inflation data reduced expectations for another near-term Federal Reserve rate hike. However, elevated Treasury yields have continued to limit the upside, keeping Bitcoin highly sensitive to moves in bonds and the U.S. dollar.
The September jobs report is now the major catalyst. A weaker-than-expected employment reading could ease rate expectations and support risk appetite, while stronger jobs and wage data could lift yields and put renewed pressure on Bitcoin$BTC .
For now, $85K remains an important level to watch, with traders focused on whether BTC can hold above it as October begins.
