Bitcoin briefly rose above $86,000 on Friday as traders awaited the latest U.S. employment data, while surging government bond yields and a stronger dollar continued to weigh on broader markets.

Bitcoin (BTC) reached $86,885 before easing to around $86,000. The largest cryptocurrency by market capitalization was trading at $85,212.37 and was approximately 1.5% higher on the day. It has gained roughly 3% since the start of October.

The U.S. unemployment rate is expected to remain unchanged at 4.1%. Economists forecast that nonfarm payrolls increased by 90,000 in September, down from 162,000 in August. The report was scheduled to provide the latest indication of labor-market conditions ahead of broader market activity. Labor-market data carries outsized weight across markets because the Federal Reserve takes employment conditions into account when setting interest-rate policy, and the projected slowdown from August's 162,000 gain gives observers a clear benchmark for the September figures.

Bitcoin had remained in an $82,000-to-$85,000 range for much of the week as government bond yields climbed. The 10-year U.S. Treasury yield reached 534%, described in the source report as a multi-decade high. Bond prices and yields move inversely, meaning the increase in yields translates into higher borrowing costs for governments, businesses, and households.

The U.S. Dollar Index (DXY), which measures the dollar against a basket of major currencies, briefly moved above 102 on Thursday, reaching an 18-month high. A stronger dollar typically puts pressure on risk assets, although Bitcoin continued to advance. The euro, meanwhile, fell to around $1.12, its lowest level since May 2025.

Concerns about France's public finances have added pressure to the euro. French five-year credit default swaps, which measure the cost of insuring against a sovereign default, rose to a multiyear high. The spread between French and German 10-year bond yields also widened to its largest level in 14 years. Both measures are closely watched gauges of how bond investors price sovereign fiscal risk.

France's borrowing costs have overtaken those of Italy and Greece, Bloomberg's Lisa Abramowicz noted, with French yields reaching their highest level relative to German bunds since the European debt crisis. France also has one of the European Union's largest fiscal deficits.

The report was published by CoinDesk on October 2, 2026: https://www.coindesk.com/markets/2026/10/02/bitcoin-tops-usd86-000-ahead-of-u-s-jobs-report