As traders look ahead to the September jobs report, Bitcoin has seen a nearly 3% increase in October, despite the impact of rising bond yields and a stronger dollar on the markets.
By James Van Straten|Edited by Jamie CrawleyOct 2, 2026, 4:11 a.m. EDT2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on BTC Price (CoinDesk Data)RésuméAfficher- Bitcoin reached a peak of $86,885, with projections for U.S. payrolls to increase by 90,000 and the unemployment rate expected to hold steady at 4.1%.
- The dollar hit an 18-month high as bond yields surged, while the gap in borrowing costs between France and Germany has widened to the largest it has been in 14 years.
Bitcoin BTC$86 226,49 reached a high of $86,885 on Friday, just prior to the release of the latest U.S. employment statistics.
The leading cryptocurrency by market capitalization dropped slightly to around $86,000 but is still approximately 1.5% up for the day and about 3% higher for the month of October.
The unemployment rate is anticipated to remain at 4.1%, with nonfarm payrolls projected to rise by 90,000 in September, a decrease from the 162,000 reported in August.
The increase in government bond yields, particularly the U.S. 10-year Treasury yield reaching a multi-decade high of 5.34%, has kept Bitcoin trading within the $82,000 to $85,000 range throughout the week. Rising yields indicate increased borrowing costs, as they move inversely to bond prices.
Simultaneously, the U.S. Dollar Index (DXY), which gauges the dollar's strength against a selection of major currencies, briefly surpassed 102 on Thursday, marking an 18-month peak. A stronger dollar generally exerts pressure on riskier assets, yet Bitcoin has continued to rise. Conversely, the euro has fallen to about $1.12, its lowest point since May 2025.
Concerns regarding France’s public finances have contributed to the euro's decline. Credit default swaps for French five-year bonds, which indicate the cost of insuring against a default, have surged to a multi-year high. Additionally, the disparity between French and German 10-year bond yields has widened to its most significant level in 14 years.
According to Bloomberg’s Lisa Abramowicz, France’s borrowing costs have now exceeded those of Italy and Greece, with French yields trading at their highest relative to German bunds since the European debt crisis. France is also grappling with one of the largest fiscal deficits in the EU.
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