Bitcoin Rises as Weak Jobs Data Dims October Rate Hike Odds

Bitcoin rose above $87,000 after a weaker-than-expected US jobs report was released. The data showed that employers added only 29,000 jobs in September, significantly less than the forecasted 89,000 increase.

The unemployment rate rose to 4.2%, and previous months' numbers were revised downward by 60,000 combined employment gains for July and August.

According to Fabian Dori, chief investment officer at Sygnum Bank, 'weak is not automatically bullish.'