Bitcoin Price Prediction: Weak Jobs Data Helps BTC, but $87K Still Blocks the Rally

Bitcoin down roughly 1.7% over 24 hours, but still around 9% higher over the past month. Trading volume has also increased sharply, suggesting the latest pullback is happening alongside elevated participation rather than disappearing interest.

The fresh catalyst is macroeconomic. September’s U.S. payroll report showed only 29,000 new jobs, adding to signs that the labor market is weakening after the Federal Reserve raised rates to 3.75%-4.00% in September. A softer growth outlook can help Bitcoin if it reduces expectations for further tightening, but elevated Treasury yields still limit how aggressively investors can price easier policy.

$87K Is Still the Breakout Level

Bitcoin has now tested the upper-$80,000 region several times without establishing a sustained breakout.

That makes $87,000 the first important level. A convincing move above it would open the psychological $90,000 target, while a breakout through $90,000 could shift attention back toward the larger $95,000-$100,000 zone.

Coinpaper’s previous Bitcoin outlook highlighted the same $85K-$87K resistance area, meaning this is now becoming a repeated technical ceiling rather than a one-session obstacle.

<iframe src=”https://widgets.coincodex.com/w/d5270973-fa91-4b7c-8af8-b25c49c86a5e?site=coinpaper&mode=light” width=”100%” height=”420” frameborder=”0” referrerpolicy=”no-referrer-when-downgrade” style=”border:0;background:transparent;border-radius:0px;”></iframe> ETF Demand Still Supports the Bull Case

Institutional demand remains the strongest counterweight to profit-taking.

U.S. spot Bitcoin ETFs attracted about $6.34 billion in Q3, their strongest quarter of 2026. That followed a sharp recovery in ETF demand as BTC climbed more than 40% during the quarter.

Flows remain volatile, however. Sept. 30 produced roughly $149 million of outflows before Bitcoin funds returned to positive territory on Oct. 1.

That matters because Bitcoin holders are also sitting on unusually large gains. Coinpaper recently found that short-term holders had reached their highest unrealized profit margin in 21 months, increasing the risk of selling whenever price approaches resistance.