US Economy Adds Only 29,000 Jobs in September, Rate Hike Expectations Fall
The US economy added only 29,000 jobs in September 2026, causing the market to scale back its expectations of an October rate hike. The probability of a rate hike fell to 21.59% from around 70% a week earlier, according to CME FedWatch. Meanwhile, the daily transfer volume on x402, a payment standard for AI agents, rose to $223,180 on 2 October, three days after the White House proclaimed the era of Super Intelligence.
BTC rose 3.82% over 7 days to $86,694.05 and is now 2.90% away from its nearest resistance at $89,205.8. Ethereum (ETH) is testing $2,745.68 for a second week, a gap of 0.33%. Solana (SOL) is holding above the 100 EMA, with resistance at $127.07 just 4.66% away.
The US M2 money supply continued to grow, reaching a new record of $23.34 trillion as of August 2026. The 10-year Treasury yield held at 5.26%, near its highest level in more than two decades. The September inflation release on 14 October could prove more decisive for the direction of the 28 October meeting than the jobs data.
On-chain data showed net inflows of $241.09 million into spot Bitcoin ETFs for the week ending 2 October, a third consecutive positive week. The largest daily inflow came on 2 October at $189.84 million, coinciding with the jobs data release that cut the probability of an October rate hike.