Content overview: “Bitcoin Nears $87K as Weak US Jobs Report Cuts Treasury Yields”. Bitcoin briefly touched $87,000 on Friday after a disappointing U.S. employment report sent Treasury yields tumbling, boosting demand for risk assets. The Labor Department said nonfarm payrolls rose by 142,000 in August, below the 160,000 economists had forecast, while the unemployment rate edged down to 4.2%. The softer labor market data reinforced expectations that the Federal Reserve will start cutting interest rates this month, a shift that tends to favor non-yielding assets like bitcoin.
Lower bond yields reduce the opportunity cost of holding cryptocurrencies, and bitcoin rallied as much as 3.4% to an intraday high of $87,007 before pulling back. However, heavy sell orders near that level prevented a sustained breakout, with analysts pointing to order-book resistance and profit-taking by short-term traders. The cryptocurrency has struggled to hold above $85,000 in recent weeks, and Friday’s move once again failed to establish new macro highs. For the complete material, the listing points back to the source inside the network.