Bitcoin Posts Stronger Golden Cross Amid Fed Pause Bets — SkimNews
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- Bitcoin traded around $86,100 on Monday, up 1.14% in 24 hours and maintaining a $1.73 trillion market cap as momentum builds toward breaking the $87,354 resistance level.
- U.S. employers added only 29,000 jobs in September—far below expectations—with July and August figures revised downward, cooling wage growth to 3.0% and reducing odds of a Fed hike to 16%-22%.
- The Federal Reserve faces diminished pressure for an October rate hike after weak employment data, shifting macroeconomic conditions in favor of risk assets like Bitcoin.
- Bitcoin’s 100-day EMA has crossed above its 200-day EMA, forming a second, stronger golden cross that confirms a rebuilt medium-term uptrend after months above July’s sub-$60,000 lows.
- U.S. spot bitcoin ETFs recorded $189.84 million in net inflows, bringing total net assets to $101.1 billion, signaling sustained institutional demand despite price consolidation.
- Prediction markets on Myriad show traders assigning an 80% probability to Bitcoin reaching $87,500 in the near term, with a 12% chance it hits $100,000.
Why it matters: The convergence of technical strength and dovish macro shifts means Bitcoin is now priced for fewer rate hikes, benefiting holders and ETF investors as medium-term trend confirmation lowers perceived volatility risk. With the 100/200-day golden cross being harder to reverse than shorter-term signals, this shift marks a structural rather than speculative rebound.
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