Bitcoin price falls back above $85,000 as employment data weakens expectations for interest rate hikes
2026-10-05 17:41:35
CoinMeta data: Recently, the price of Bitcoin rebounded above $86,000 earlier on Monday, but then fell back to just over $85,000 due to weak U.S. employment data. According to CoinMeta data, Bitcoin reached a high of $86,600 during Asian trading hours, just 500 dollars short of the $87,000 peak at the end of September. A report from the U.S. Bureau of Labor Statistics showed that only 29,000 new jobs were created in the United States in September, below the 12-month average of 45,000 per month, with an unemployment rate of 4.2%. This data caused traders to reduce their bets on a Fed interest rate hike in October. The FedWatch tool shows that the probability of a rate hike has dropped to 17%.
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Source:Internet
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