Bitcoin held on exchanges fell to a new low while spot Bitcoin ETF inflows resumed pace. Is Uptober back on?
Bitcoin (BTC) moved to an intraday high of $62,338 on Oct. 4 as stronger-than-expected jobs data for September and bullish onchain metrics added tailwinds to the idea of a rally in quarter 4.
BTC/USD daily chart. Source: TradingView
Bitcoin’s price action occurred as September’s US nonfarm payrolls print came in at 254,000, significantly higher than the expected 147,000. The unemployment rate slid to 4.1% from 4.2% in September, versus forecasts for 4.2%.
