Bitcoin hits 62k as FTX token, Beam, Shiba Inu soar after US adds 254k jobs in September

CoinMarketCap10-04 21:34

Bitcoin and other altcoins held steady after the Bureau of Labor Statistics published encouraging September nonfarm payrolls data. US nonfarm payrolls rebound Bitcoin (BTC) rose slightly to $62,500 ...

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FTX Token  was the best top-100 cryptocurrency as it jumped by 20%. It has risen by over 80% from its lowest level this month.Shiba Inu , the second-biggest meme coin in the industry, was the second best-performing currency, rising by 10%. The other top performers were AAVE , Beam  and Celestia .According to the BLS, the American economy added 254,000 jobs in September, higher than the median estimate of 147,000. It also revised its estimate of August’s jobs report upwards to 159,000.The unemployment rate retreated from 4.2% to 4.1% while wage growth rose from 3.9% to 4.0% in September.You might also like:  Bitcoin dumps as Biden supports Israel hitting Iran oil facilities. Meanwhile, most betters in a Polymarket poll with $147,000 believe that Bitcoin will rise to $65,500 this month, 7% a","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BTC":"Grayscale Bitcoin Mini Trust","BK4139":"生物科技","BK4585":"ETF&股票定投概念","BK4129":"建筑与工程","SOL":"EMEREN GROUP","BK4556":"基因编辑","BK4535":"淡马锡持仓","BK4519":"光伏太阳能","BEAM":"Beam Therapeutics, Inc.","BK4505":"高瓴资本持仓","BK4594":"比特币ETF概念"},"translate_title":"美国9月份增加25.4万个就业岗位后，FTX代币、Beam、Shiba Inu飙升，比特币触及6.2万个","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BEAM":1,"BTC":1,"SOL":1},"content_text":"Bitcoin and other altcoins held steady after the Bureau of Labor Statistics published encouraging September nonfarm payrolls data.\nUS nonfarm payrolls rebound\nBitcoin (BTC) rose slightly to $62,500 while Solana (SOL) jumped by 3% to $140. FTX Token (FTT) was the best top-100 cryptocurrency as it jumped by 20%. It has risen by over 80% from its lowest level this month.\nShiba Inu (SHIB), the second-biggest meme coin in the industry, was the second best-performing currency, rising by 10%. The other top performers were AAVE (AAVE), Beam (BEAM) and Celestia (TIA). \nAccording to the BLS, the American economy added 254,000 jobs in September, higher than the median estimate of 147,000. It also revised its estimate of August’s jobs report upwards to 159,000.\nThe unemployment rate retreated from 4.2% to 4.1% while wage growth rose from 3.9% to 4.0% in September.\nThese numbers came at a time when there are significant inflation fears as the crisis in the Middle East escalated, pushing crude oil prices higher. Brent crude has jumped to $78 while the West Texas Intermediate rose to $75.\nYou might also like:  Bitcoin dumps as Biden supports Israel hitting Iran oil facilities \nTherefore, there is a risk that the Federal Reserve will not be as aggressive in cutting interest rates as was widely expected. In a statement on Monday, Sep. 30, Jerome Powell, the Fed Chair, noted that the Fed would be conservative when cutting interest rates. \nA hawkish turn by the Federal Reserve would be moderately bearish on risk assets like stocks and cryptocurrencies.\n\n\n\nAnother day, and yet higher oil prices.IF this continues and results in durably higher prices, a big if, it will question the widespread view in markets that \"inflation is dead\" and that the Fed can be a single mandate central bank, focusing just on the \"maximum employment\"… pic.twitter.com/1SqxsiJZwF— Mohamed A. El-Erian (@elerianm) October 4, 2024\n\n\n\nTraders are optimistic on Bitcoin and altcoins\nOn the positive side, most crypto investors are upbeat on Bitcoin and altcoin performance in October.\nHistorically, October and November have been the best two months for Bitcoin, according to CoinGlass. \nIn a note, a crypto analyst noted that the best Octobers in the past few years started with some struggle. \n\n\n\nEvery man, their dog, that dog's cousin, the cousin of the first dog's owner, then that owner's Anon CT account is bearish on $BTC right now and wider cryptocurrencies it seems.Ignore the noise. The last two true bull markets for BITCOIN have been born in Uptober, but not… pic.twitter.com/4ygLYq0kQy— Jagoilio (@mitchell_nixon) October 4, 2024\n\n\n\nThe other potential catalyst for Bitcoin and other tokens will be the upcoming US election in November. Historically, top assets do well after the election as investors embrace the new normal of the next administration. \nMeanwhile, most betters in a Polymarket poll with $147,000 believe that Bitcoin will rise to $65,500 this month, 7% above the current price. Many others see it rising to $70,000 this month. \nA Bitcoin comeback would lead to more gains by most altcoins like Solana, Ethereum, and Solana. It would also spur more gains in the meme coin industry.\nYou might also like:  IMX price hits key support as Immutable Passport signups surge","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2472493957"}