The recent US employment report showed higher-than-expected job creation in September, supporting Bitcoin price and influencing interest rate cut expectations.

US Employment Data in September

According to the US Bureau of Labor Statistics, approximately 254,000 new jobs were created in September, significantly exceeding economists' expectations of around 140,000. This data indicates continued economic growth and could impact monetary policy.

Impact on Bitcoin Market

Grayscale's head of research, Zach Pandl, noted that strong employment data supports Bitcoin's price as investors are more inclined towards riskier assets amid economic growth. Following the report's release, Bitcoin's price reached an intraday high of over $62,300.

Future Prospects

Amid continued economic resilience and limited room for interest rate cuts, Bitcoin is expected to remain attractive to investors. An additional support factor could be the reduction of Bitcoins held on centralized exchanges, reaching the lowest levels since November 2018.

Strong US employment figures positively impact the Bitcoin market despite uncertainty over future Fed rate cuts. Investors continue to bet on Bitcoin, which may lead to further strengthening of its position by the end of the year.