Bitcoin Extends Rally as NFP Misses Forecasts
The US economy added fewer jobs than expected in September, according to the Bureau of Labor Statistics report on Friday. The non-farm payroll (NFP) rose by 29K, missing the market expectation of 90K.
Despite this, Bitcoin has extended its rally and is trading above $86,000, up from a weekly low of $82,544. This can be attributed to elevated investor interest, with modest capital flowing into spot Exchange-Traded Funds (ETFs).
The odds of a Federal Reserve rate hike in October have eased, averaging 18%, according to CME Group's FedWatch tool.