Bitcoin Steadies Near $86,000 as Fed Hike Bets Ease Bitcoin remained close to $86,000 after weaker US jobs data reduced expectations for a Federal Reserve interest-rate ...
Bitcoin remained close to $86,000 after weaker US jobs data reduced expectations for a Federal Reserve interest-rate hike in October.
The latest US employment figures were described as weak, prompting a lower expectation of an October Fed rate increase. The change in rate outlook came as Bitcoin held near the $86,000 level.
Federal Reserve rate expectations are closely watched by financial markets. In this case, the weaker jobs data and the reduced likelihood of an October hike formed the main backdrop to Bitcoin’s price performance.
Bitcoin’s position near $86,000 indicates that the cryptocurrency remained around that level as investors assessed the implications of the US jobs report and the outlook for monetary policy.
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