Weak US Jobs Data Shifts Odds Against October Fed Hike, Crypto Eyes FOMC Minutes

QCP Capital highlights a swift swing in market bets: expectations of an October rate hike have faded fast after a disappointing employment report showed just 29,000 new jobs against forecasts of 84,000. Unemployment ticked up to 4.2 percent, cutting the odds of further tightening to around 22 percent.

Yet Treasury yields stay elevated at 5.25 percent for the 10-year note, and high oil prices continue to weigh on risk appetite. Attention now turns to the FOMC minutes due October 7 and the CPI reading on October 14.

Bitcoin hovers near $86,700 and needs a sustained move above $87,200 to confirm further gains. Ether remains boxed between $2,650 and $2,800, requiring a break above the upper bound. One major institution has already lifted its 12-month bitcoin target to $113,000.

Based on information from cryptonews.net