Bitcoin Tops $86,000 Ahead of September Jobs Data — SkimNews
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- Bitcoin briefly reached $86,885 before easing to around $86,000, up roughly 3% in October and 1.5% on the day despite being pinned in the $82,000-$85,000 range all week by surging yields.
- September nonfarm payrolls are forecast to rise by 90,000, down sharply from 162,000 in August, with the unemployment rate expected to hold steady at 4.1%.
- The U.S. 10-year Treasury yield climbed to multi-decade highs of 5.34%, lifting borrowing costs and weighing on risk assets across the board.
- The U.S. Dollar Index briefly topped 102 to an 18-month high, while the euro fell to around $1.12, its lowest level since May 2025.
- France's borrowing premium over Germany widened to its largest in 14 years, with French yields overtaking those of Italy and Greece for the first time since the European debt crisis, per Bloomberg's Lisa Abramowicz.
- French five-year credit default swaps climbed to a multiyear high as investors grew uneasy over one of the EU's largest fiscal deficits.
Why it matters: With September payrolls forecast at just 90,000 versus 162,000 in August and the 10-year Treasury yield at multi-decade highs of 5.34%, Friday's release will test whether Bitcoin can hold above $86,000 — particularly as the dollar sits at an 18-month high above 102 and squeezes risk assets globally.
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