Bitcoin Heads Higher on Macro Moves: Where Does BTC Go Next?
U.S. payrolls weakened sharply in September, with only 29,000 jobs added versus 84,000 expected, prior months revised down by 60,000, and unemployment rising to 4.2%. The soft data eased pressure on the Federal Reserve to keep tightening, lifting risk assets and boosting Bitcoin. Fed hike odds for the October meeting dropped sharply, while prediction markets now favor a hold. Crypto markets responded positively: total crypto market cap topped $3 trillion, sentiment moved into “greed,” ETF flows were positive, and Bitcoin rose to about $86,153 after touching $87,173. Technically, Bitcoin remains in a strong uptrend: ADX is high, the 50-day EMA is above the 200-day EMA, and momentum indicators are bullish. Still, RSI is near overbought and Bitcoin is testing major resistance around $87,354. A daily close above that level would strengthen the breakout case.
