Bitcoin
Bitcoin Hovers Near $85,000 as Markets Await Fed Minutes and US Economic Data
Bitcoin traded around $85,000 as investors prepared for upcoming Federal Reserve minutes and bond auctions.
Bitcoin opened the week near $85,000 after briefly touching $87,000 following a weaker-than-expected United States employment report. September non-farm payrolls increased by 29,000 compared to expectations of 90,000, while the unemployment rate rose to 4.2 percent.
Market focus is turning toward United States bond yields and macroeconomic releases highlighted by The Kobeissi Letter. The 10-year Treasury yield recently touched 5.34 percent, its highest mark in roughly 24 years, raising borrowing costs and tightening financial conditions across risk-oriented assets.
Key catalysts for the week include the September ISM Services PMI and prices data on Monday, followed by a $39 billion 10-year Treasury note reopening and Federal Reserve meeting minutes on Wednesday. University of Michigan consumer sentiment and inflation expectation figures will conclude the schedule on Friday.
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