Bitcoin Tops $87,000 as Weak Jobs Data Weighs on Yields

Bitcoin climbed above $86,000 and briefly topped $87,000 on October 2, as weaker-than-expected U.S. employment data and falling Treasury yields supported demand for riskier assets. The advance faded: Bitcoin reached an intraday high of about $87,229 on Bitstamp before slipping back below $86,000, according to TradingView data cited in market coverage. The September nonfarm payrolls report showed 29,000 jobs added, compared with an 84,000 forecast, and included downward revisions to July and August, according to one report. The softer figures prompted a reassessment of expectations for Federal Reserve policy and coincided with a decline in U.S. Treasury yields. The reports linked that movement in yields to Bitcoin’s rise, but did not establish whether the price increase would last. Bitcoin’s pullback followed repeated difficulty holding above the mid-to-high $87,000 range. Market coverage cited resistance near $87,300 and selling liquidity in exchange order books as possible constraints. The price action left the cryptocurrency testing an area it had approached in recent sessions without a sustained move higher. Other market indicators pointed to increased trading activity.