Bitcoin Jumps to $87K After Weak US Jobs Report

Bitcoin spiked past $87,000 on Friday after the US released disappointing jobs data, giving the cryptocurrency a short-term boost.

The reason for the jump comes down to how markets react to the health of the economy. On Friday, the US released its nonfarm payrolls report (a monthly count of how many new jobs were added to the economy, excluding farm workers). The numbers were much weaker than experts predicted.

Here are the key figures:

• The economy added just 29,000 jobs, far below the expected 84,000
• August's numbers were revised down from 162,000 to 133,000
• This was the third weakest jobs report of 2026

Why does weak jobs data help Bitcoin? When the job market looks weak, investors believe the Federal Reserve (the US central bank that controls interest rates) is less likely to raise interest rates. Lower rates generally make riskier assets like Bitcoin and stocks more attractive.

The data shifted expectations dramatically. The chance of the Fed raising rates by 0.25% at its October meeting dropped to just 18%, down from 64% a week earlier.

Bond yields also fell, which is good news for Bitcoin. A bond yield is the return investors earn for lending money to the government. When yields drop, investors often look for better returns elsewhere — sometimes in crypto.

• The 30-year yield fell to 5.573%
• The 10-year yield fell to 5.2%

Stocks rose too. The S&P 500 (a basket of 500 big US companies) gained 1%, while the tech-heavy Nasdaq rose 1.8%.

However, Bitcoin couldn't hold its gains. It slipped back below $86,000 as large sell orders around $87,300 created a "resistance wall" — a price level where many people want to sell, making it hard for the price to climb higher.

In short: Weak jobs data gave Bitcoin a lift by lowering expectations of rate hikes, but heavy selling pressure stopped it from breaking to new highs. Analysts believe falling bond yields could still support Bitcoin going forward.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/markets/bitcoin-briefly-taps-87k-as-bond-yields-drop-on-low-us-nonfarm-payrolls-data?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound