QCP: Bitcoin's rise to $86,913 is flow-driven, tonight's jobs report is the key test
- —Bitcoin hit $86,913, its highest since Sept. 23, up 14.6% from the Sept. 15 low
- —30-year Treasury yields reached 5.62% and 10-year 5.29%, while gold fell 8.5%
- —Real rates rose 44 bps in September with breakeven inflation nearly unchanged
- —Spot ETF inflows totaled $3.5B in August and $2.6B in September
Why it matters: The rally rests on capital flows rather than inflation, so a weak jobs report could stall it while a strong one opens the path to $90,000.
Source: PANews