NEW YORK, Oct. 5, 2026 — Bitcoin traded near $86,000 Monday as weaker-than-expected U.S. jobs data made an October Federal Reserve rate increase less likely. Bitcoin was trading at about $85,950, while Ethereum gained 0.54% over the previous 24 hours and Bitcoin gained 0.84%. Among major altcoins, XRP, Tron, Hyperliquid, Dogecoin and Cardano gained as much as 10.71%, while BNB and Solana declined by as much as 1%.

The global cryptocurrency market capitalization rose 0.64% to $2.93 trillion, according to CoinMarketCap. Bitcoin moved above $87,000 following the jobs report before falling back below that level. The crypto Fear and Greed Index stood at 65, indicating a greedy reading.

Weak Jobs Data Cuts Rate Hike Odds

The U.S. added 29,000 jobs in September, well below the roughly 90,000 expected by economists. The unemployment rate rose to 4.2%, making another Federal Reserve rate increase this month less likely.

Market expectations for an October Fed rate increase fell from about 64% to below 20% after the jobs report. Bitcoin reached $87,250 Friday and remained above $86,000 Monday as traders adjusted their expectations for U.S. monetary policy.

Treasury Yields Keep Crypto Trading in Check

The 10-year U.S. Treasury yield was near 5.26%, while oil traded above $100 a barrel. Higher Treasury yields can reduce demand for assets such as Bitcoin because investors can earn higher returns from U.S. government debt.

Oil prices above $100 a barrel can also add to inflation concerns. If inflation remains high, the Federal Reserve may have less room to lower interest rates even if the labor market weakens.

ETF Inflows Show Uneven Institutional Demand

U.S. spot Bitcoin ETFs attracted about $2.65 billion in September, while on-chain data showed that Bitcoin holders remained in profit without significant profit-taking.

Spot Bitcoin ETFs attracted $223 million during the latest week, down from $2.39 billion the previous week. The lower inflow shows that institutional demand for Bitcoin was weaker during the latest week than during the previous week.

Photo credit: Bloomberg

Bitcoin Gains as Market Dominance Holds Near 59%

Bitcoin gained 3.95% over the past week, while Ethereum gained 2.71%. BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano also posted weekly gains of as much as 11.99%. Bitcoin’s market dominance stood near 59.15%, while Bitcoin accounted for 69.24% of the CMC20 index, compared with 13.25% for Ethereum, 3.82% for XRP and 2.84% for Solana.

Bitcoin needs to remain above $86,000, while a move through $87,000 to $88,000 could lead to further gains. Bitcoin's next price moves will depend on whether it holds above $86,000, along with ETF flows, Treasury yields, and expectations for the Federal Reserve's October policy decision.