#BitcoinRisesToward$85K
📉 Weak U.S. jobs data is giving $BTC and $ETH a boost.
September’s NFP report came in at just 29K jobs vs. 84K expected, while unemployment rose to 4.2%.
Instead of triggering a broad risk-off move, the softer data pushed the 10-year Treasury yield lower by 0.77%, helping risk assets catch a bid.
That’s where the “bad news is good news” narrative comes in:
📉 Weaker labor data → less pressure for restrictive Fed policy
🏦 Lower Treasury yields → easier financial conditions for risk assets
💰 Rate-cut expectations → renewed focus on liquidity and crypto
Bitcoin is now pressing toward $87K, with $87.4K highlighted as the next resistance level in the source, while Ethereum is also gaining momentum.
But there’s still a risk factor: leverage remains elevated, which can make crypto moves more volatile around macro headlines.
For now, the market is reading weaker jobs data through the lens of rates, yields and liquidity.
$BTC
#bitcoin #Ethereum #NFP #CryptoMarket
📉 Weak U.S. jobs data is giving $BTC and $ETH a boost.
September’s NFP report came in at just 29K jobs vs. 84K expected, while unemployment rose to 4.2%.
Instead of triggering a broad risk-off move, the softer data pushed the 10-year Treasury yield lower by 0.77%, helping risk assets catch a bid.
That’s where the “bad news is good news” narrative comes in:
📉 Weaker labor data → less pressure for restrictive Fed policy
🏦 Lower Treasury yields → easier financial conditions for risk assets
💰 Rate-cut expectations → renewed focus on liquidity and crypto
Bitcoin is now pressing toward $87K, with $87.4K highlighted as the next resistance level in the source, while Ethereum is also gaining momentum.
But there’s still a risk factor: leverage remains elevated, which can make crypto moves more volatile around macro headlines.
For now, the market is reading weaker jobs data through the lens of rates, yields and liquidity.
$BTC
#bitcoin #Ethereum #NFP #CryptoMarket
