The Dow Jones once again reached a record high after better-than-expected non-farm payrolls data on Friday boosted investor confidence in the U.S. economic outlook. The S&P 500 closed up 0.9% and the Nasdaq rose 1.22%. Bitcoin also rose slowly yesterday, returning to 62K from the previous day's low of 59,828.

Non-farm payrolls are good, the market expects only a one-point interest rate cut in November

Nonfarm payrolls rose by 254,000 in September, significantly beating expectations for a gain of 150,000. The unemployment rate also fell to a 3-month low of 4.1% in September from 4.2% the previous month.

The report pointed out that the economy is solid, but also sent a signal to the market that the Federal Reserve is more likely to cut interest rates by a smaller margin in the future. Traders now see a chance of just a one-point rate cut in November rising to 97.4%, the CME Group's FedWatch tool showed, up from 67.9% the previous day.

Wall Street Journal reporter Nick Timiraos, known as the "Fed's mouthpiece", said after the data was released that this non-agricultural report may put Fed officials on the path to a 25 basis point cut in interest rates and eliminate the possibility of the November Fed meeting Lots of drama from the meeting.

U.S. stocks celebrated on Friday (10/4) as the Dow Jones reached a new all-time high again, the S&P 500 closed up 0.9%, and the Nasdaq rose 1.22%.

Bitcoin back to 62K

Bitcoin also rose slowly yesterday, returning to 62K from the previous day's low of 59,828.

The 10x Research report states that the price of Bitcoin has experienced a major correction since March, mainly due to large-scale selling by whales and a large number of token unlocks that flooded the total market supply of altcoins, but from “stablecoins, Bitcoin Strong inflows into spot ETFs and increased futures leverage prevented further price declines. Founder Markus Thielen remains optimistic about the future.

U.S. economic growth is picking up, the Federal Reserve continues to cut interest rates due to falling inflation, and U.S. corporate profits remain strong. These factors will have a major impact on Bitcoin.

Whether Bitcoin can regain its neckline at 66K in the short term is still an important price to observe.

This article Non-agricultural employment is good, US stocks are rising, and Bitcoin has returned to 62K. It first appeared on Chain News ABMedia.