Bitcoin Forms Second Golden Cross as Weak Jobs Data Cuts Rate-Hike Odds

Bitcoin traded near $86,100 on Monday, up 1.14% in 24 hours, after a weaker-than-expected U.S. September jobs report slashed expectations for further Federal Reserve tightening. The 100-day EMA crossed above the 200-day EMA, confirming a second, stronger golden cross after the 50-day/200-day cross in mid-September. The Bureau of Labor Statistics reported employers added just 29,000 jobs in September, roughly a third of forecasts, with the unemployment rate rising to 4.2%. July was revised to a loss of 10,000 jobs and August cut to 133,000. The Fed raised rates a quarter point to 3.75%-4.00% on September 16. October hike odds fell to roughly 16%-22% from 64% a week earlier. The S&P 500 closed Friday at 7,722.72, up 0.73%, and the Nasdaq gained 1.19%. U.S. spot bitcoin ETFs recorded $189.84 million in net inflows.