Bitcoin Soars Above $87,000 as Weaker Jobs Report Reduces Rate Hike Expectations
Bitcoin surged to above $87,000 after a weaker-than-expected U.S. jobs report reduced expectations for a Federal Reserve rate hike. The unemployment rate reached 4.2% and nonfarm payrolls rose by just 29,000, well below forecasts of 84,000 to 90,000. This shift in market momentum pushed Bitcoin above $85,000 on September 30 and it continued to climb to $87,000 on October 2.
Ripple made significant progress in its plans to introduce native lending infrastructure on the XRP Ledger. The company unlocked 1 billion XRP at the start of October before locking 700 million XRP back into escrow. The XRP Ledger also recorded strong activity, processing over 900 million in a 24-hour period on October 1.
Shiba Inu posted its strongest monthly performance of 2026, gaining 13.5% in September. The token also recorded a daily golden cross on October 2, the first such signal in almost two years. The SEC and CFTC are moving forward with separate rulemaking initiatives, with the SEC proposing a new framework for digital-asset custody.