Bitcoin touched $87,000 following a deeply disappointing US jobs report (29,000 positions created versus 90,000 expected), but failed to break its September record of $87,354. The cryptocurrency trades around $84,600 this Saturday morning after dropping below the $84,000 level overnight. The probability of a Fed rate hike on October 28 collapsed from 70% earlier in the week to just 13% after the jobs data, before edging back up to 22%. This reversal triggered over $320 million in leveraged long position liquidations, while the Fed holds its rate between 3.75% and 4% with PCE inflation at 3.4% year-on-year.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
