The largest cryptocurrency by market capitilization eased to around $86,000 but remains around 1.5% higher on the day and up roughly 3% in October
The unemployment rate is expected to remain unchanged at 4.1%, while nonfarm payrolls are forecast to increase by 90,000 in September, down from 162,000 in August
The surge in government bond yields, with U.S. 10-year Treasury yield having reached multi-decade highs of 5.34%, had kept bitcoin locked in the $82,000-$85,000 range throughout the week. Yields move inversely to bond prices, so the spike in yields means higher borrowing costs
Meanwhile, the U.S. Dollar Index (DXY), which measures the dollar against a basket of major currencies, briefly rose above 102 on Thursday, reaching an 18-month high. A stronger dollar typically puts pressure on risk assets, although bitcoin has continued to advance. However, the euro has fallen to around $1.12, its lowest level since May 2025
Concerns over France’s public finances have added to pressure on the euro. French five-year credit default swaps, which measure the cost of insuring against a sovereign default, have climbed to a multiyear high. The gap between French and German 10-year bond yields has also widened to its largest in 14 years
France’s borrowing costs have overtaken those of Italy and Greece, Bloomberg’s Lisa Abramowicz noted, with French yields trading at their highest level relative to German bunds since the European debt crisis. France also faces one of the EU’s largest fiscal deficits
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years
