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Chart of Bitcoin climbing above $86,000 on October 5, 2026, peaking near $87,000 before easing
Photo: CoinDesk

Bitcoin Slips to $86,000 as Fed Rate-Hike Odds Fade

CoinDesk2 min read6 sources

Why did Bitcoin slip to $86,000?

Bitcoin (BTC) slipped about 1% from its Monday peak near $87,000 to roughly $86,000 as weak US jobs data cut Fed rate-hike odds, lifting appetite for riskier assets.

Key numbers

Bitcoin price$86,103-0.66% in 24h at 7:15am ET Monday
US jobs added in September29,000vs 90,000 expected
October Fed hike odds17%–19%36%–71% a week ago; 24% later Monday (sources differ)
Gap to Bitcoin record high$126,198price about 32% below Oct 2025 record
Spot Bitcoin ETF weekly inflows$241.09Mthird straight week of inflows
US unemployment rate4.2%up from 4.1%

What happened

Bitcoin (BTC) slipped about 1% from its Monday peak near $87,000 to roughly $86,000 as weak US jobs data cut Fed rate-hike odds, lifting appetite for riskier assets. On Friday, the government said US employers added only 29,000 jobs in September, far below the 90,000 economists expected. That made it less likely the Federal Reserve (the US central bank) will raise interest rates at its 28 October meeting, with the odds now around 17% to 19%. Bitcoin's late-September high above $87,000 was its highest level since January.

Why it matters

Bitcoin is trading close to its highest level since January, and its moves show how much investors care about interest rates. When rates are expected to stay lower, safe savings pay less, so investors are often more willing to hold riskier assets such as crypto and stocks. Bitcoin is still about 32% below its record of $126,198 from October 2025, so the recovery is only partial.

Who this affects

Marketbullish
Medium impact
Crypto and stock investors gain as rate-hike worries ease.
Companymixed
Medium impact
Bitcoin holders see gains, but price trails 2025 record.
Competitorsbullish
Low impact
Dogecoin, XRP and BNB rose; Ether barely moved.
Industrymixed
Medium impact
Crypto funds keep drawing money, but December hike risk lingers.

Bitcoin vs Ether, Solana, XRP

BitcoinBTC$85,844~0%
EtherETH$2,719-0.2%
SolanaSOL$121.12~0%
XRPXRP$1.51-0.7%

As of 2026-10-05

How we got here

  1. Bitcoin hits its record high of $126,198.

  2. Bitcoin peaks above $87,000 in late September, its highest level since January.

  3. US reports 29,000 September jobs versus 90,000 expected; unemployment rises to 4.2%.

  4. Bitcoin nears $87,000 in early trading, then reverses to about $86,000.

What to watch

  • Fed rate decision, where traders now see only a small chance of a hike2026-10-28
  • December hike odds, still priced above 75% by traders2026-12
  • Whether Bitcoin clears the $87,599 level analysts flag, and whether ETF inflows continueQ4 2026

Educational content only. Not investment advice.

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