Bitcoin briefly tops $87,000 after weak US jobs data

Bitcoin rose briefly above $87,000 on Friday after US payroll data came in weaker than expected, pushing Treasury yields lower and easing some pressure on risk assets. The Labor Department said the US added 29,000 jobs in September, well below economists’ expectations, while prior months were revised lower. The softer report also reduced bets on more aggressive Federal Reserve tightening, helping stocks and crypto move higher. BTC reached about $87,229 on Bitstamp before slipping back below $86,000 as overhead selling kept it from setting new multimonth highs. Analysts cited lower bond yields as a supportive factor for bitcoin, but noted that resistance around the upper $87,000 area remained a hurdle.