Bitcoin is trading around $86,100, $1,200 below the peak of $87,354, which is holding back growth. Over the past day, it has increased by 1.14%. The market cap of BTC is $1.73 trillion, while the total cryptocurrency market cap is $2.94 trillion (+1.36%). The Fear and Greed Index is at 68, indicating a zone of 'greed'.
The reason for optimism was the weak U.S. labor market report: only 29,000 jobs were added in September, a third of the forecast. Unemployment rose to 4.2%. Revisions worsened the picture: July was revised from +21,000 to -10,000, and August from 162,000 to 133,000. Wage growth slowed to 3.0%. The Fed raised rates by 25 basis points to 3.75%-4.00% on September 16. Before the report, the market assessed the likelihood of an October hike at 64%, which dropped to 16%-22% afterward. This mirrors last month: on September 4, a strong report caused BTC to drop over 2% to ~$79,300. Currently, Bitcoin is 8% above that level.
The S&P 500 closed at 7,722.72 (+0.73%), Nasdaq at 27,190.86 (+1.19%), and Dow at 51,176.96 (+0.49%). Nvidia hit a new high. Ethereum is at $2,711, XRP at $1.51, and Solana at $120.31. All top 10 altcoins are in the green, but only Hyperliquid gained more than 1% (+3.68% to $93.17). Inflows into U.S. spot Bitcoin ETFs were $189.84 million, with assets totaling $101.1 billion. On the chart, there is a second, stronger 'golden cross': the 50-day EMA is above the 200-day EMA (since mid-September), and the 100-day EMA has crossed the 200-day EMA. RSI is at 64.7, ADX at 43.4. EMAs are lagging: the cross confirms movement rather than predicts it. At Myriad, the probability of touching $87,500 is estimated at 80%, $90,000 at 59%, $95,000 at 25%, and $100,000 at 12%.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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