Bitcoin Briefly Hits $87K as Weak US Jobs Data Spurs Macro Rally

What happened: Bitcoin touched $87,229 on Bitstamp before retreating below $86,000, following a disappointing US nonfarm payrolls report (+29,000 jobs vs. 84,000–90,000 expected). The unemployment rate rose to 4.2%, and Treasury yields fell for the second straight day. The probability of a Fed rate hike at the next meeting dropped from 64% to 18%, fueling a rally in risk assets, including a 1.8% gain in the Nasdaq.

Why it matters: The BTC price move was driven by macroeconomic factors rather than crypto-specific catalysts, with order-book resistance preventing a breakout above $87,300. The data-driven repricing of Fed policy expectations provided a tailwind for both equities and digital assets, but the rejection at technical resistance suggests limited near-term upside unless further macro surprises emerge.

Source: Cointelegraph