Bitcoin climbed after weaker-than-expected payrolls pushed Treasury yields lower, but order-book resistance kept BTC from reaching new macro highs.

Bitcoin (BTC) spiked past $87,000 on Friday as US jobs data missed expectations.

Data from TradingView showed BTC/USD reaching $87,229 on Bitstamp, just shy of new eight-month highs.

September nonfarm payrolls data came in below expectations, with the economy adding just 29,000 jobs against an anticipated 84,000. August numbers, which had beat expectations on release , were revised down from 162,000 to 133,000.

US stocks gained at the Wall Street open as traders scaled back hawkish bets on Federal Reserve interest-rate hikes following the weaker jobs data. The S&P 500 and tech-heavy Nasdaq Composite Index rose 1% and 1.8%, respectively.

“This marks the third weakest jobs report of 2026,” trading resource The Kobeissi Letter noted in a reaction on X.

The latest data from CME Group’s FedWatch Tool showed just an 18% chance of the Fed enacting a 0.25% rate hike at its October meeting, down from 64% a week ago.

US bond yields fell for a second consecutive day , with the 30-year yield at 5.573% and the 10-year at 5.2% at the time of writing. On Wednesday, both reached new 24-year highs as markets looked past softer August Personal Consumption Expenditures (PCE) data, known as the Fed’s “preferred” inflation gauge.

US 10-year bond yield one-day chart. Source: Cointelegraph/TradingView

Bitcoin price action failed to break beyond multi-month highs seen in September, dropping back below $86,000 at the time of writing.

Previously, Cointelegraph reported on successive walls of ask liquidity on exchange order books keeping upside in check, with the latest band at $87,300 forming new resistance.

In a new analysis , trading firm QCP Capital argued that BTC/USD should still benefit from the softer labor-market print, with bond yields continuing to fall.

“For Bitcoin, a Treasury relief rally would provide the cleanest upside catalyst. The asset has already demonstrated resilience through a real-rate shock that pressured gold,” it wrote.

Meanwhile, trader Aksel Kibar saw that a successful support retest at $82,800 was already in place on the daily chart.