Bitcoin Sees Path to $97K as Weaker Jobs Data Shift Fed Odds

Bitcoin (BTC) broke through resistance levels overnight to test $87,000 on October 2. According to Matt Mena, senior crypto research strategist at 21shares, this advance is linked to changing economic expectations.

The employment backdrop weakened as U.S. employers added only 29,000 jobs in September and unemployment reached 4.2%, according to the Bureau of Labor Statistics.

Mena argued that softer hiring gives the Federal Reserve room to hold rates into 2027, describing a weekly decline of more than 35% in hike odds.