Bitcoin ended Q3 up 44% - its best quarter since Q1 2024 - and ether gained 70.9%, its strongest since Q1 2021. Three labor data points this week all read firm: ADP 90,000, jobless claims 197,000 (below 200,000 for the first time in weeks), Chicago PMI 58.8 vs 51.2 forecast - collectively tilting Friday's NFP toward the higher end of the 60,000-100,000+ range. Wednesday's PCE pop to $85,500 gave back within hours as the 10-year held near 5.3% and DXY climbed to 101.81. Citi raised its 12-month Bitcoin target to $113,000 on a thin-flow thesis backed by LTH supply at an all-time 80%. Q3 Bitcoin ETFs drew $6.34B, reversing Q2's $5B outflows. Micron beat and guided Q1 2027 to $61.5B vs $57B.
