Bitcoin Price Holds Near $75,000 After Hot October Jobs Report

U.S. employers added 165,000 jobs in October, nearly three times the 59,000 economists expected, the Labor Department said Friday, and the bitcoin price briefly pushed above $76,100 before settling near $75,500, Bitcoin Magazine Pro data shows.

The unemployment rate edged down to 4.1% from 4.2%, beating the Dow Jones forecast that called for it to hold. Average hourly earnings rose 0.4% on the month and 3.1% over the year, both ahead of estimates, CNBC reported .

Prior months were revised higher as well. August payrolls moved to 186,000, an upward revision of 53,000, and September rose to 60,000 after a 31,000 upgrade, leaving the two-month total 84,000 stronger than first reported.

The print lands on a market still digesting Thursday’s Nasdaq-led rout. The bitcoin price had held near $76,000 into that close, dipped toward $75,200 late in the session, then recovered into the mid-$75,000s overnight before the 8:30 a.m. ET release. Spot bitcoin changed hands around $75,800 after the data, with a market cap of about $1.52 trillion and roughly $48 billion in trading volume over the past day, Yahoo Finance data indicated.

Bitcoin price’s first move was a quick spike above $76,100, then a slide toward $75,600 before it settled back near $75,800. The range on the day has run from about $75,240 to $76,280, leaving the market little changed from its pre-release level even as rate futures repriced.

That muted finish fits the pattern after big macro prints. Most of the damage to the bitcoin price this week came from equity risk-off, not from the labor market itself, and a hot payrolls number mainly reinforces the path the Fed was already pricing.

CME FedWatch odds put roughly a 79% chance of a 25-basis-point hike at the Dec. 9 meeting after the release, up from about 70% into the open. The next employment report is due Dec. 4, five days before that decision, and the signal points the same way the last Fed hold did: stronger hiring and firmer wages leave less room for another pause.