Bitcoin spikes past $87,100 then slides to $84,700 on US inflation and jobs data
- —BTC swung from $82,600 to $87,100 and back to $84,700 within the week
- —US nonfarm payrolls rose just 29,000 versus ~90,000 expected; unemployment hit 4.2%
- —Core PCE at 3.0% y/y and headline at 3.4% remain above the Fed's 2% target
- —ISM Manufacturing Prices Paid jumped from 71.1 to 77.9
Why it matters: Softer labor data cuts October rate-hike odds, but elevated Treasury yields and oil prices are capping bitcoin's upside above $87,000.
Source: CoinDesk Japan