Bitcoin Surges to $86,757 as Soft PCE and Weak Jobs Data Lift Rate-Hold Odds
- —August core PCE came in at 3.0% versus 3.3% expected
- —Nonfarm payrolls rose 29,000 against forecasts of 90,000; unemployment ticked up to 4.2%
- —Futures now price a 74% chance of a Fed hold in October, up from 35.8% a week ago
- —Spot Bitcoin ETFs took in $6.34 billion in Q3, but 2026 net inflows remain under $1 billion
Why it matters: Cooling inflation and a softening labor market reduce the odds of another rate hike, supporting risk assets, though the weak jobs print raises questions about whether the labor market is turning.
Source: Decrypt