Weak US Jobs Report eases Pressure on Fed Rate Hike

The US labor market added just 29,000 jobs in September, and the unemployment rate rose to 4.2 percent.

This development has eased pressure on the Federal Reserve to raise interest rates at its meeting on October 27 and 28, which could be a positive signal for Bitcoin.

The underlying figures are weaker than they initially seemed, with July's job growth revised down from 21,000 to a loss of 10,000 jobs.

The Fed's decision will have a significant impact on the US economy and global financial markets, including Bitcoin, which traded between $84,068 and $87,086 in the past 24 hours.