Crypto
Bitcoin Surges Past $87K Amid Weak Jobs Report
Bitcoin's price surged to $87,200 on Friday, its highest level since January, before pulling back below $86,000. The move came after a weak US jobs report pushed Treasury bond yields lower.
The September nonfarm payrolls came in at just 29,000 jobs, far below the 84,000 expected. Falling bond yields and a cleared sell wall near $85,000 helped push BTC higher.
Analysts expect Bitcoin could reach $90,000 to $100,000 by year end if resistance breaks. Resistance sits near $87,300 to $87,400, with analysts calling it the gateway to $90,000.