POPA ReconBitcoin jumped to $87,000 after weak US jobs report on October 2: market expects the Fed will not raise the rate
Bitcoin ($BTC)
Unemployment rose to 4.2% versus 4.1% expected, and job gains were only 29 thousand instead of about 90 thousand. A weak economy reduces the chances of a rate hike and pressures bond yields lower, so risk assets rose. Part of the rise came from short covering, and long positions were crowded before the report: if $87,000 does not hold, a pullback is possible.
Facts
BitcoinMagazine at 12:32 UTC on October 2 reported: bitcoin jumped to $87,000 after the release of 4.2% unemployment versus higher expectations. [@BitcoinMagazine, October 2, 2026]
JoshBrownUbi: open interest grew by $2.3 billion since September 30, longs are crowded; if the price does not keep rising, leverage drove it, not macro. [@JoshBrownUbi, October 2, 2026]
About $18.5 million in $BTC short positions were liquidated in 15 minutes, probability of a Fed pause in October 87% (according to TheMoneyApe). [@TheMoneyApe, October 2, 2026]
Job gains 29 thousand versus 84-90 thousand expected, July and August revised down by 60 thousand; 10-year bond yield fell by about 7 basis points to 5.17%. [@Mr_TiMe2ShInE, October 2, 2026]
Binance spot: $BTC around $86,740, up about 3.6% per day, volume about $1.9 billion. [exchanges, October 2, 2026]
Waiting
Whether the price holds above $87,000 or this is a brief data-driven spike
Bond buying: US 3-year and 10-year auctions next week could push yields up again
post from telegram channel Korean Alpha EN