Bitcoin traded above $86,000 on Monday after briefly climbing near $87,000, as investors weighed weaker-than-expected U.S. jobs data against still-elevated Treasury yields and persistent inflation concerns, Investing.com reported.
Weak Jobs Data Lowers October Rate Hike Expectations
Data released early in the month showed that U.S. employers added 29,000 jobs in September. This figure landed well below consensus expectations, while payroll figures for the previous two months underwent downward revisions.
The softer labor market figures reinforced expectations that the Federal Reserve is unlikely to raise interest rates at its October meeting. Markets now price in less than a 20% chance of an October rate hike, marking a sharp decline from projections seen the previous week, according to CME FedWatch data cited by Investing.com.
The 10-year U.S. Treasury yield briefly fell below 5.17% following the jobs report. However, it later rebounded to approximately 5.28%, maintaining downward pressure on cryptocurrencies and other liquidity-sensitive assets.
Investors remained reluctant to assume a single weak employment report would trigger an immediate pivot toward monetary easing, particularly given persistent inflation risks. Meanwhile, the U.S. dollar remained relatively firm, which limited upside momentum for Bitcoin by making dollar-denominated assets less attractive to overseas buyers.
Institutional Inflows and Macroeconomic Energy Pressures
Despite macroeconomic headwinds, institutional demand provided a supportive foundation for the cryptocurrency. Flows into U.S. spot Bitcoin exchange-traded funds recorded net inflows of $102.7 million on Oct. 1 and $189.8 million on Oct. 2, according to SoSoValue data.
These gains, however, faced containment from broader macroeconomic threats. Oil prices remained above $100 a barrel amid ongoing Middle East conflicts, triggering concerns that higher energy costs could sustain elevated inflation and restrict the Federal Reserve’s capacity to ease policy.
Traders continue to monitor whether the asset can establish a definitive foothold above $87,000, a threshold that could pave the way toward $90,000.
Tokenized U.S. Stock Trading Venture Notification
Beyond spot market price action, infrastructure developments advanced on the regulatory front. OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange—the parent company of the New York Stock Exchange—notified the Securities and Exchange Commission (SEC) that it plans to launch a tokenized securities trading venue.
Submitted via a notice dated Sunday, the platform will utilize the SEC’s new innovation exemption. OKX stated that the venue will offer permissioned, on-chain trading of tokenized U.S. stocks operating on its X Layer network.
The initial rollout plans to cover more than 60 U.S.-listed companies, providing issuers with a 30-day window to opt out. This filing follows the SEC’s decision last month to grant a five-year exemption permitting specific venues to trade tokenized versions of U.S.-listed stocks without registering as traditional national securities exchanges.
| Platform / Asset Class | Details | Key Companies Involved |
|---|---|---|
| OKX-ICE Tokenized Venue | Permissioned on-chain trading on X Layer network under SEC innovation exemption | Nvidia, Apple, Microsoft, Amazon, Tesla, JPMorgan Chase, Walmart, SpaceX |
| U.S. Spot Bitcoin ETFs | Recorded net inflows of $102.7M on Oct. 1 and $189.8M on Oct. 2 | Managed via SoSoValue tracked funds |
Cardano Surges as Major Altcoins Edge Higher
Alongside Bitcoin’s movements, broader altcoin markets edged higher across major protocols. Ethereum, the world’s second-largest cryptocurrency, rose 0.8% to $2,720.88.
XRP gained 1.3% to reach $1.52. Solana traded relatively flat, while BNB edged down by 0.2%.
Cardano recorded a standout performance, surging 10.7% to $0.2710, marking its highest valuation since May 2026. Among prominent meme tokens, Dogecoin climbed 3.9%.
