Bitcoin reached approximately $86,100 on Monday, marking a 1.14% increase over 24 hours. The total market capitalization of the crypto sector stands at $2.94 trillion, with Bitcoin accounting for $1.73 trillion. The Fear & Greed Index is currently at 68, indicating a sentiment of greed.
Market optimism follows a weak U.S. jobs report, which showed only 29,000 new positions added in September. Following this data, the probability of an October interest rate hike by the Federal Reserve dropped to between 16% and 22%. Meanwhile, U.S. spot Bitcoin ETFs recorded net inflows of $189.84 million, bringing total net assets to $101.1 billion.
Technical indicators show a second golden cross as the 100-day exponential moving average crossed above the 200-day EMA, following a similar move by the 50-day EMA in mid-September. The Relative Strength Index is at 64.7, and the Average Directional Index sits at 43.4, suggesting strong trend momentum.
Altcoin performance remains mixed, with Ethereum trading at $2,711 and XRP at $1.51. Solana saw a slight decline of 0.91% to $120.31. Investors are now looking toward upcoming economic catalysts, including the release of the Federal Reserve meeting minutes on October 7 and the September CPI report scheduled for October 14.
