Bitcoin Holds Near $75,000 as October Jobs Exceed Forecasts

Bitcoin (BTC) held in the mid-$75,000s Friday after U.S. employers added far more jobs than expected in October, lifting market pricing for a December Federal Reserve rate hike.

Employers added 165,000 jobs, nearly three times the 59,000 economists had forecast. The unemployment rate edged down to 4.1% from 4.2%, while average hourly earnings rose 0.4% from September and 3.1% over the year.

BTC briefly climbed above $76,100 after the 8:30 a.m. ET release, then pulled back toward $75,600; at 9:35 a.m. ET (14:35 UTC) Friday, it was about $75,312. The day’s trading range was about $75,240 to $76,280.

Interest-rate futures put the chance of a quarter-point hike at the Fed’s Dec. 9 meeting at roughly 79%, up from about 70% before the report. Professional and business services added 70,000 jobs, health care added 42,000 and transportation and warehousing gained 25,000. The next U.S. employment report is due Dec. 4, five days before the Fed meeting.