Bitcoin briefly hits $87,229 as weak US payrolls push Treasury yields off multidecade highs
Bitcoin spiked to $87,229 on October 2 after September nonfarm payrolls missed expectations, but retreated to $83,327 by October 12 as Treasury yields remained elevated.
Why it matters
The episode illustrates Bitcoin's continued sensitivity to Treasury yield moves and Fed policy expectations, with the asset behaving as a risk asset rather than a geopolitical hedge despite narrative claims. Elevated yields above 5% create competition for capital allocation.
Where the sources disagree
Bitcoin September 2026 monthly return
7.33%
Decrypt
6.33%
Decrypt
One source cites 7.33% as the month-to-date return that would set a record, while another reports the final close at 6.33% gain after a late-month correction
Key facts
Bitcoin reached $87,229 on Bitstamp on October 2, 2026
87,229 USDReported by Cointelegraph
September 2026 US nonfarm payrolls added 29,000 jobs against 84,000 expected
29,000 jobsReported by Cointelegraph
August 2026 nonfarm payrolls revised down to 133,000 from 162,000
133,000 jobsReported by Cointelegraph
US 30-year Treasury yield hit 5.58% on September 29, highest since June 2002
5.58 %Reported by Cointelegraph
US 10-year Treasury yield reached 5.342% on October 1, highest since April 2002
5.342 %Reported by Cointelegraph
Bitcoin traded at $83,327 on October 12, up 0.6% on the day but down 2.9% on the week
83,327 USDReported by Decrypt
Spot Bitcoin ETFs recorded eight consecutive sessions of inflows totaling around $3 billion through September 29
3,000,000,000 USDReported by Decrypt
Bitcoin gained 6.33% in September 2026, its fourth consecutive green September
6.33 %Disputed figureReported by Decrypt
What happened
Bitcoin traded in a range between $83,000 and $87,000 from late September through mid-October 2026 as Treasury yields hit multidecade highs before pulling back on weak labor data. The 30-year yield reached 5.58% on September 29, its highest since June 2002, while the 10-year touched 5.342% on October 1, a level last seen in April 2002. September nonfarm payrolls came in at 29,000 versus 84,000 expected, with August revised down to 133,000 from 162,000, prompting traders to cut Fed hike odds for October to 18%. Spot Bitcoin ETFs saw eight straight sessions of inflows totaling around $3 billion through September 29, then $148.69 million in outflows on September 30, and $21.13 million inflows on October 11. Bitcoin posted a 6.33% gain for September, its fourth consecutive green September, and a 43% quarterly gain in Q3, the best since 2017.
How the story developed
- Update
30-year Treasury yield hits 5.47%, highest since February 2002
10-year reaches 5.18%, highest since July 2007; MOVE index jumps to 104.6
- First report
First report by Bitcoin.com News
Bond Yields Hit a 24-Year High: Schiff, Ackman, Hayes Can’t Agree Why
- Independent corroboration
Independently corroborated by Bitcoinist
Bond Volatility Hits Highest Since March While Bitcoin Traders Stay Calm
- Update
Bitcoin rebounds to $84,000 as yields hit multidecade highs
30-year yield at 5.58% (highest since June 2002), 10-year at 5.26% (highest since June 2007); spot ETFs see eight straight days of inflows
- Update
September nonfarm payrolls miss at 29,000 jobs; Bitcoin spikes to $87,229
August revised down to 133,000 from 162,000; Fed hike odds for October drop to 18%; Bitcoin briefly taps $87,229 on Bitstamp
- Update
Bitcoin retreats to $83,327 as yields climb again
Rising energy prices reignite inflation concerns; Treasury yields rise and dollar strengthens; spot ETFs see $21.13M inflows on October 11 after prior outflows
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 25 Sept 2026, 08:30 UTC: Bitcoin.com News, official — 1 independent source, 1 reports
- 25 Sept 2026, 16:18 UTC: Crypto News (CryptoNews.net) — 2 independent sources, 2 reports
- 27 Sept 2026, 10:30 UTC: Bitcoinist — 3 independent sources, 3 reports
- 29 Sept 2026, 10:04 UTC: Cointelegraph — 4 independent sources, 4 reports
- 29 Sept 2026, 14:07 UTC: Decrypt — 5 independent sources, 5 reports
- 1 Oct 2026, 18:00 UTC: CryptoSlate — 6 independent sources, 10 reports
- 5 Oct 2026, 20:54 UTC: Bitcoin Magazine — 7 independent sources, 19 reports
- 5 Oct 2026, 21:42 UTC: Crypto.News — 8 independent sources, 20 reports
- 10 Oct 2026, 17:59 UTC: CoinGape — 9 independent sources, 25 reports
Affected entities
Also mentioned: Fidelity, India, Brian Armstrong, U.S. Congress, Tether USDt, Binance, Coinbase
Original sources
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