Bitcoin Sees Brief Surge After Missed Jobs Report, But Retreats Under Earlier High

The US jobs report on October 2 missed expectations in several key areas. Payrolls rose by just 29,000 against a forecast of 90,000, unemployment ticked up to 4.2 percent, and hourly earnings increased only 0.1 percent against an expected 0.3.

Bitcoin responded quickly to the news, surging to $87,242 within 15 minutes. This was its highest price since September 23, and just 0.4 percent above the earlier high for the day.

However, by 13:00 UTC it had retreated back under that high, and by the end of the day sat at $84,476, a 3.2 percent drop from its peak.