Bitcoin Surges Above $87,000 as US Jobs Data Reduces Rate-Hike Expectations

The past week saw a significant shift in crypto market momentum, with Bitcoin (BTC) reclaiming $87,000 after the release of weaker-than-expected US jobs data. The data showed nonfarm payrolls rising by just 29,000, well below expectations of 84,000 to 90,000, and the unemployment rate reached 4.2%. This reduced expectations for another Federal Reserve rate hike this month, which contributed to Bitcoin's surge above $87,000.

Ripple made notable progress in its XRPL lending plans, with the XRP Ledger recording strong activity. XRPL processed over 900 million in a 24-hour period on October 1, followed by a 60% increase in a key growth metric on October 2. Ripple also unlocked 1 billion XRP at the start of October before subsequently locking 700 million XRP back into escrow.

Shiba Inu (SHIB) closed September with a 13.5% monthly gain, its strongest monthly performance of 2026. The token also recorded a daily golden cross on October 2, the first such signal in almost two years, and had reached 1,693,365 on-chain holders during September.