The bullish jobs report adds fuel to hopes for an “Uptober” and fourth-quarter rally in Bitcoin’s price.
The strong United States September jobs report signals a possible slowdown in interest rate cuts but is still bullish for Bitcoin (BTC) as investors warm to riskier assets, Zach Pandl, Grayscale’s head of research, told Cointelegraph.
“Conversation about Fed rate cuts and debate about larger government deficits continue alongside solid economic growth, which should be net-positive for investors’ risk appetite and may reintroduce inflation risk in the medium-term,” Pandl said.
“Grayscale Research expects Bitcoin to benefit in this risk-positive environment,” he explained.
