Bitcoin briefly climbed above $86,000 on Friday as traders positioned ahead of September’s U.S. employment report, while higher bond yields and a stronger dollar continued to pressure global risk assets. The cryptocurrency reached $86,885 before easing back toward $86,000.
According to CoinDesk, bitcoin was around 1.5% higher on the day and had gained roughly 3% since the start of October. The move came despite a broader market backdrop marked by rising government borrowing costs, a firmer U.S. currency and growing concern about France’s public finances.
Jobs report in focus
The September employment figures were expected to provide fresh clues about the strength of the U.S. economy and the direction of monetary policy. Economists surveyed for the report expected nonfarm payrolls to increase by 90,000, down from a gain of 162,000 in August. The unemployment rate was forecast to remain unchanged at 4.1%.
Employment data can influence expectations for interest rates because a stronger labor market may point to continued economic resilience, while weaker hiring can raise questions about growth. Those expectations often affect bond yields and the appeal of risk-sensitive assets such as bitcoin.
Bitcoin had remained largely confined to a range of about $82,000 to $85,000 during the week as Treasury yields rose. The 10-year U.S. Treasury yield reached 5.34%, described in the source material as a multi-decade high. Bond prices and yields move in opposite directions, so higher yields generally indicate increased borrowing costs across financial markets.
Dollar strength adds pressure
The U.S. Dollar Index, which tracks the dollar against a basket of major currencies, briefly moved above 102 on Thursday. That was its highest level in 18 months. A stronger dollar typically weighs on risk assets, although bitcoin continued to advance ahead of the jobs release.
The euro also weakened to around $1.12, its lowest level since May 2025. Pressure on the common currency was compounded by concerns about France’s fiscal position. French five-year credit default swaps, which reflect the cost of insuring against a sovereign default, rose to a multiyear high.
The spread between French and German 10-year government bond yields widened to its largest level in 14 years. The source material also noted that French borrowing costs had moved above those of Italy and Greece, with French yields at their widest premium to German bunds since the European debt crisis. France has one of the largest fiscal deficits in the European Union.
Moneyiar market picture
Moneyiar data at 09:04 on October 3, 2026, showed Bitcoin at $84,630.696716397, down 1.74% over 24 hours but up 0.53% over seven days. TRON was $0.3354927822, up 0.31% in 24 hours and down 0.42% over seven days. Data Network stood at $0.2115120084, down 1.67% and 6.35%, respectively, while Ronin was $0.066268684, down 3.31% over 24 hours and up 0.22% over seven days.
