Key points

  • The Bureau of Labor Statistics said October nonfarm payrolls rose by 165,000 and the unemployment rate changed little at 4.1%, with average hourly earnings up 0.4% to $38.00.
  • Wall Street had looked for about 59,000 jobs, CNBC reported, citing the Dow Jones estimate.
  • Bitcoin printed $74,790 on Kraken in the 15:00 UTC hour — under Thursday’s $75,100 session low — and was near $75,500 by mid-afternoon UTC.

This morning’s First Print flagged the 13:30 UTC Employment Situation as the day’s second event after Deribit’s expiry. The print arrived. The tape answered with a dip, not a collapse.

The labour print

BLS’s October release (USDL-26-1632) showed payroll gains concentrated in professional and business services (+70,000), health care (+42,000) and transportation and warehousing (+25,000). Manufacturing added 19,000. August and September were revised up by a combined 84,000.

The household survey held the unemployment rate at 4.1% with 7.1 million unemployed. People employed part time for economic reasons rose by 339,000 to 4.8 million. Average weekly hours for all private employees stayed at 34.4.

Put simply, this was a firmer labour market than the median forecast, not a soft patch that invites easier policy on its own.

How bitcoin traded it

On Kraken’s 15-minute book, the 13:30 UTC hour — the jobs candle — traded a low of $75,481 and closed near $75,695 on about 74 BTC. The next two hours did the damage. The 14:00 UTC hour’s low was $75,119; the 15:00 UTC hour undercut Thursday’s $75,100 washout and printed $74,790 before closing back above $75,500 on about 238 BTC.

At about 15:25 UTC bitcoin last traded near $75,512 on Kraken and about $75,478 on Coinbase. Ether was near $2,219, Solana near $90.57 and XRP near $1.183 on Kraken. Deribit bitcoin perpetual open interest was about $708 million with funding near flat; Binance’s last funding rate was about 0.0084% per eight hours.

Dow Jones via Morningstar framed the move as bitcoin falling after strong jobs data raised the odds of firmer rates. That is a co-move read, not a causal proof from this desk.

Equities were still cleaning up Thursday’s AI rout. Yahoo Finance data around 15:25 UTC showed the Nasdaq near 24,719 and the S&P 500 near 7,426, both well below Thursday’s closes, with the VIX near 24.5 and the 10-year yield near 4.87%.

The levels

The fresh reference low is $74,790. A sustained break under it on rising volume would open the round numbers Wintermute had flagged after Thursday’s flush in Thursday’s US-close Market Read.

Above, $75,100 to $75,625 — Thursday’s low and the election-night handle — is the first repair band. $76,300, Friday’s earlier high, is the next step; $80,000 remains the reclaim that would undo this week’s break.

Farside’s table for 6 Nov was still blank at our mid-afternoon read, so Friday’s create/redeem print is not yet in. For the last full session see Wednesday’s ETF Desk inflow day and Thursday’s −$430.2 million outflow day already on the site.

As of 15:25 UTC, BTC is trading near $75,500. Not financial advice.

This article is for information only and is not investment advice.