Bitcoin price prediction for October: Best and worst cases for BTC

The jobs report changed the rate question, not the answer

Hiring slowed markedly in September. The official employment release showed 29,000 jobs added, with unemployment at 4.2%. A softer labor report reduces one argument for another immediate rate increase, but does not cancel inflation above the Fed’s objective. Investors were already weighing whether September’s hike should be followed by a pause or by further tightening later in the year.

The Fed’s October meeting calendar lists a two day meeting on October 27 and 28, with the decision and press conference on the second day. The meeting is a dated event, not a promised pause. Officials can leave rates unchanged and still signal concern about later inflation. Conversely, a surprise increase could tighten financial conditions even if traders had expected no move.

Bitcoin rose after the jobs release. An earlier account of the payroll reaction placed its intraday high above $87,000 and discussed short liquidations. The sequencing establishes a market response, not an inventory list of buyers. Traders covering bearish derivatives, investors buying spot bitcoin and funds creating new shares can all contribute at different hours. One event can start a move without supplying the demand needed to sustain it for another four weeks.