Bitcoin Rises Above $86,000 With U.S. Jobs Report in Focus

Bitcoin has gained roughly 3% since the start of October, with traders focused on the upcoming September U.S. jobs report as elevated bond yields and a stronger dollar continue to shape risk-asset sentiment.

BTC rose to a session high of $86,885 on Friday before giving back some of the move and trading near $86,000. Bitcoin was still up about 1.5% on the day and approximately 3% for October.

The unemployment rate is expected to hold at 4.1%, while economists anticipate the U.S. economy added 90,000 nonfarm jobs in September. That would mark a notable slowdown from the 162,000 jobs reported for August.

Bitcoin has remained within an $82,000-$85,000 range for much of the week as Treasury yields climbed. The 10-year U.S. Treasury yield reached 5.34%, its highest level in decades. Rising yields can increase financing costs and make riskier investments less attractive.

The U.S. dollar has strengthened alongside higher yields. The DXY index briefly surpassed 102 on Thursday, reaching an 18-month high. Historically, dollar strength can create pressure for risk assets, although Bitcoin has continued to post gains. The euro, meanwhile, slipped to approximately $1.12, its lowest level since May 2025.

Concerns surrounding France’s fiscal outlook have added pressure to the euro. Five-year French credit default swaps climbed to a multiyear high, while the spread between French and German 10-year bond yields reached its widest point in 14 years.

French government borrowing costs have also risen above those of Italy and Greece, Bloomberg’s Lisa Abramowicz reported. The premium on French bonds over German bunds has reached its highest level since the European debt crisis, while France continues to run one of the EU’s largest fiscal deficits.