Bitcoin Edges Higher Ahead of U.S. Jobs Report as Global Bond Yields Surge
Short liquidations topped $122 million as traders added bullish exposure ahead of the U.S. jobs report.
- On Friday, Bitcoin neared $87,000 as BTC short liquidations topped $120 million over 24 hours, with buyers breaking through liquidity walls around $85,000 to reach new October highs near $87,800.
- Rising government bond yields, including the U.S. 10-year Treasury yield reaching 5.34%, had kept Bitcoin locked in the $82,000-$85,000 range throughout the week before buyers cleared sell orders around $85,700.
- US spot Bitcoin ETFs recorded net inflows of $102.7 million on Oct. 1, according to Farside Investors, while CoinGlass data shows open interest rising to approximately 653,000 BTC, an increase of 27,000 BTC.
- Perpetual funding rates have surged from 3% to 10%, signaling bullish trader sentiment, yet higher costs leave leveraged positions vulnerable to sudden reversals ahead of U.S. jobs figures.
- The U.S. Dollar Index rose above 102 on Thursday, reaching an 18-month high, while the euro fell to around $1.12 amid French fiscal concerns, developments coinciding with Bitcoin's climb.
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Bitcoin accelerates on Friday (2) and renegotiates above $86,000, supported by a weaker payroll than expected in the United States and the resumption of ETF entries in view of cryptocurrencies. At around 11:30 a.m., bitcoin rose 3.4% in 24 hours, to $86,124.20, according to CoinGecko. In Brazil, it was traded at R$450.111.24, at 2.88%, according to the CoinTrader Monitor. The American economy created 29 thousand vacancies in September, below 84 …
Times of India
Cryptocurrency News | Cryptocurrency Prices | Market CapBitcoin leads crypto market rebound above $85K as short liquidations accelerate
Crypto markets rose on Friday as total market capitalisation reached $3.042 trillion, with Bitcoin reclaiming $85,000 amid easing Treasury yields and a short squeeze. Bitcoin gained about 2%, while Ethereum held above $2,700. Investors now await US jobs data for clues on Treasury yields, the dollar and crypto’s next move.
Bitcoin (BTC) was heavily influenced this week by US inflation, growth, and employment indicators. Around September 28th, it briefly rose to approximately $82,000 due to rising US Treasury yields and the situation in the Middle East... The post US employment slowdown dampens expectations of further interest rate hikes, Bitcoin briefly surpasses $87,000, but why it couldn't maintain its rise [Xwin] first appeared on NADA NEWS.
Bitcoin rises to $87,000 after a U.S. employment report with only 29,000 jobs created and an unemployment rate of 4.2%. Bitcoin entry rises to $87,000 after weak U.S. employment: only 29,000 jobs created aparece primero en Merca2.
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