In brief The U.S. added only 29,000 jobs in September versus 84,000 expected, and odds of an October Fed hike plunged to roughly 14% from 70% earlier this week. Bitcoin trades at $86,152, about 1.4% below its $87,354 September high. Where does $BTC go next? Here’s what the charts are saying. Bad news for the
The Contract Polymarket’s odds stand at 56% for a contract that says bitcoin will be “above $90,000 this month”. By early this morning, the price on that contract had risen to 59.5 cents (or 59.5%) but has since dipped again. That said, Polymarket’s October price market doesn’t ask whether bitcoin finishes the month above $90,000;
The US 10-year Treasury yield touched 5.34% on Oct. 1, its highest since 2002, capping a third quarter in which it climbed almost 90 basis points, the largest quarterly rise this century. Bitcoin gained about 43% over the same three months and Ethereum about 71%. Bitcoin trades in the mid-$80,000s, and the clearest evidence of
Bitcoin’s quarter-end liquidity signal changes direction depending on which reserve measure is used. Federal Reserve data released Oct. 1 show bank reserves falling $88.236 billion between Sept. 23 and Sept. 30 Wednesday snapshots, while their weekly average rose $17.897 billion. Reserves are balances banks hold at the Federal Reserve to make and receive payments. Their
Bitcoin ($BTC) spiked past $87,000 on Friday as US jobs data missed expectations. Key points: Bitcoin tapped $87,200 but failed to make new multi-month highs as overhead resistance held. September US nonfarm payrolls came in below expectations at 29,000, while the August and July figures were revised lower. Analysts saw further $BTC price upside on
Bitcoin treasury companies built primarily around buying the cryptocurrency may struggle to compete with Michael Saylor’s Strategy, according to economist and “The Bitcoin Standard” author Saifedean Ammous. “I don’t see a compelling case for going to another Bitcoin treasury company other than Michael Saylor’s Strategy,” Ammous said on the latest episode of Cointelegraph’s Proof of
The leading cryptocurrency, Bitcoin, got off to a strong start in October. After being stuck in the $82,000–$85,000 range at the end of September, $BTC broke above this consolidation zone and rose to levels around $86,900. At this point, the analytics company Makrovision shared its latest assessment of Bitcoin. According to this assessment, the company
The “Uptober” frenzy is taking off across the market. From a technical point of view, $BTC’s 42% Q3 rally is already positioning for a better Q4. For $BTC, Q4 has historically been one of its strongest quarters, with an average quarterly ROI in excess of 70%. However, for history to repeat itself, October will be
Citi raises its Strategy price target to $240 from $136 as a higher Bitcoin forecast and expected mNAV expansion strengthen its MSTR outlook. Citi has raised its price target for Strategy (MSTR) to $240 from $136 while keeping a Buy rating on the stock. The revision follows the bank’s higher Bitcoin forecast, with Citi now
The cryptocurrency market kicked off the highly anticipated “Uptober” cycle with strong upward momentum today, as Bitcoin ($BTC) jumped over 2.2% to trade around $86,150. The rally follows a $3 trillion bank raising its Bitcoin price target and spot ETF inflows turning positive again. Bitcoin Reclaims $86K as Uptober Begins Bitcoin is up around 2%