Bitcoin Rallies as Rate-Hike Odds Fade

Bitcoin climbed after a softer-than-expected jobs report pushed back expectations for an October rate hike, reinforcing the view that easier financial conditions could support risk assets. The move comes as the broader market remains in a greed regime, with the Fear and Greed Index at 72, and traders continue to favor assets that benefit from lower-rate expectations.

BTC is now approaching its yearly ceiling, a level that has acted as a near-term resistance zone in recent sessions. That puts the market at an important inflection point: a clean break above the high could invite momentum buying, while a rejection may trigger profit-taking from traders who have already positioned for a macro-driven rally.

The latest price action also underscores how closely Bitcoin remains tied to U.S. monetary policy expectations. When labor data weakens and rate-hike odds fall, liquidity-sensitive assets often respond first, and Bitcoin has increasingly traded like a high-beta macro asset rather than a purely idiosyncratic crypto instrument.

For now, the setup favors continued volatility around the current range. Bulls have the macro narrative, but they still need confirmation from price action. Without a decisive breakout, BTC could remain vulnerable to short-term reversals as traders reassess whether the market has already priced in the shift in policy expectations.