After a spike higher overnight, interest rates are dipping ahead of tomorrow's key U.S. employment report.
By Stephen AlpherMake preferred on Share this article10 minutes ago· 7:59 a.m. EDTStephen AlpherShare this postBitcoin treading water as fourth quarter gets underway
Bitcoin BTC$83,931.26 rose 42.7% in the third quarter, its best quarterly performance since jumping 68.7% in the first quarter of 2024. Ether ETH$2,704.69 rose 70.8%, its best result since soaring 160.7% in the first quarter of 2021.
Both cryptos are about flat on the first day of the fourth quarter, with bitcoin just under $84,000 and ether just above $2,700.
Interest rates have become the big macro story, with the U.S. 10-year Treasury yield touching yet another 24-year high overnight at 5.362%. It’s since pulled back to 5.282% as bearish traders likely hedge bets ahead of tomorrow’s U.S. Nonfarm Payrolls Report for September.
Economist forecasts are for the U.S. to have added 90,000 jobs last month and the unemployment rate to hold at 4.1%.