{"id":79017,"date":"2026-10-03T18:26:17","date_gmt":"2026-10-03T18:26:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/analyst-sees-bitcoin-path-to-97k-as-weak-jobs-data-shift-fed-odds\/"},"modified":"2026-10-03T18:26:17","modified_gmt":"2026-10-03T18:26:17","slug":"analyst-sees-bitcoin-path-to-97k-as-weak-jobs-data-shift-fed-odds","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/analyst-sees-bitcoin-path-to-97k-as-weak-jobs-data-shift-fed-odds\/","title":{"rendered":"Analyst Sees Bitcoin Path to $97K as Weak Jobs Data Shift Fed Odds"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">21shares identifies $87,000 as a barrier to further gains.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The strategist estimates about $7 billion in quarterly fund additions.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">His forecasts extend to ether at $4,000 and solana at $140.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Softer Jobs Data Put Bitcoin\u2019s $87K Barrier in Focus<\/h2>\n<p>Bitcoin broke through $85,000-$86,000 overnight and was testing $87,000 on Oct. 2 when Matt Mena, senior crypto research strategist at 21shares, a crypto investment product issuer, supplied comments to Bitcoin.com News. He linked the advance to changing economic expectations and described the latter level as a barrier that had constrained prices for much of the year.<\/p>\n<p>The strategist identified $87,000 as a resistance level, meaning a price area where selling pressure can impede an advance. Mena said:<\/p>\n<blockquote>\n<p>\u201cMore uncertain macro data, such as this jobs report, could be the catalyst to clear this resistance and set the path to the next resistance levels: $90K and $97K.\u201d<\/p>\n<\/blockquote>\n<p>The employment backdrop weakened as U.S. employers added 29,000 jobs in September and unemployment reached 4.2%, according to the <a href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\" target=\"_blank\" rel=\"noopener noreferrer\">September employment figures<\/a> released Oct. 2 by the Bureau of Labor Statistics. July and August gains were revised down by a combined 60,000.<\/p>\n<p>Mena argued that softer hiring gives the Federal Reserve room to hold rates into 2027, describing a weekly decline of more than 35% in hike odds. Separately, derivatives exchange CME Group\u2019s <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\" target=\"_blank\" rel=\"noopener noreferrer\">FedWatch rate probabilities<\/a> reflect prices of contracts tied to future interest rates; they represent traders\u2019 expectations.<\/p>\n<h2>Fund Buying Supports the Recovery as Rate Risks Remain<\/h2>\n<p>Alongside the economic shift, the analyst estimated approximately $7 billion in third-quarter net inflows into bitcoin <a href=\"https:\/\/www.bitcoin.com\/get-started\/money-fundamentals\/tradfi-vs-crypto\/what-is-an-etf\/\" target=\"_blank\" rel=\"noopener noreferrer\">exchange-traded funds (ETFs)<\/a>, stock-exchange products offering asset exposure. He described that as their strongest quarter since Q3 2025, ahead of the October 2025 record high. Net inflows measure additions after withdrawals.<\/p>\n<p>Daily U.S. allocations were uneven around the quarter\u2019s end, with <a href=\"https:\/\/farside.co.uk\/btc\/\" target=\"_blank\" rel=\"noopener noreferrer\">$102.7 million in net inflows<\/a> on Oct. 1, according to Farside Investors. That followed $148.7 million in withdrawals on Sept. 30. Mena\u2019s quarterly estimates also included $2.6 billion for ether and $500 million for solana.<\/p>\n<p>The scale of tightening also shapes the outlook, with crypto asset manager Grayscale describing September\u2019s increase as a <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/grayscale-says-bitcoin-traders-shouldnt-fear-this-fed-cycle\/\">limited adjustment within the current economic cycle<\/a>. Its Sept. 17 analysis anticipated a smaller effect on digital assets than the sustained tightening that began in 2022.<\/p>\n<p>Upcoming releases provide further tests, as crypto exchange Bitfinex identifies continued direct buying as central to sustaining gains. Its <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitfinex-lists-17-macro-catalysts-that-could-move-bitcoin-in-october\/\">October economic catalysts<\/a> include the Consumer Price Index, which measures consumer inflation, and the Federal Reserve\u2019s rate decision. Mena characterizes the cryptocurrency as particularly sensitive to the availability of investment capital.<\/p>\n<h2>Ether and Solana Targets Extend the Fourth-Quarter Forecast<\/h2>\n<p>The altcoin forecasts concern ether, the native cryptocurrency of Ethereum, and solana, the native token of the Solana network. Recent demand has varied, with <a href=\"https:\/\/news.bitcoin.com\/market-updates\/blackrock-drives-103m-bitcoin-etf-rebound-bitcoin-price-tops-86k\/\">ether and solana ETFs recording withdrawals<\/a> of $55.37 million and $5.91 million, respectively, on Oct. 1. Ether funds experienced their third consecutive session of net outflows.<\/p>\n<p>Mena stated:<\/p>\n<blockquote>\n<p>\u201cWith momentum building, we see Ethereum breaking $3K toward $4K and Solana reclaiming $125 on its way to $140.\u201d<\/p>\n<\/blockquote>\n<p>\u201cUptober is off to a strong start. Q4 is historically Bitcoin\u2019s best quarter, averaging 62.7% gains, and the stage is set for a strong year-end close,\u201d he concluded.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/market-updates\/analyst-sees-bitcoin-path-to-97k-as-weak-jobs-data-shift-fed-odds\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways 21shares identifies $87,000 as a barrier to further gains. The strategist estimates about $7 billion in quarterly fund additions. His forecasts extend to ether at $4,000 and solana at $140. Softer Jobs Data Put Bitcoin\u2019s $87K Barrier in Focus Bitcoin broke through $85,000-$86,000 overnight and was [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":79018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79017"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=79017"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/79018"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=79017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=79017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=79017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}