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Bitcoin briefly hits $87K as weak U.S. jobs data and SEC crypto custody proposal boost market.

Market News
02 Oct 2026
Bitcoin
View Source
Bullish
Bitcoin briefly hits $87K as weak U.S. jobs data and SEC crypto custody proposal boost market.

Bitcoin surged to $87,000 for the first time since September 23, driven by weaker-than-expected U.S. September nonfarm payrolls adding only 29,000 jobs, which fueled speculation of Federal Reserve rate cuts. This labor data caused a drop in the U.S. dollar and Treasury yields, making bitcoin more attractive due to its inverse correlation with the dollar. Additionally, the U.S. SEC proposed new rules allowing investment advisors to directly custody crypto assets, providing legal clarity and potentially opening the door for more institutional investment. These developments combined to push bitcoin's price up, despite some volatility, with significant short position liquidations observed.

Bitcoin's market cap on Pluang stands at Rp30.686,4 trillion as of Oct 03, 2026 00:03 WIB, highlighting its substantial scale in the crypto market. The cryptocurrency is trading at Rp1.524.400.000 with a moderate 1-day gain of 0.78%, while 24-hour trading volume remains high at Rp757,2 trillion. Buy orders slightly outweigh sell orders at 59% to 41%, and typical investor hold time is around 110 days, indicating steady interest despite recent price volatility.

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