Bitcoin rose sharply early Monday, climbing within about $500 of its late-September peak near $87,400 before reversing to just under $86,000 during Asian morning hours. The cryptocurrency remains up 1.3% over the previous 24 hours.
The rally was fueled by softer U.S. jobs data released Friday, which eased pressure on the Federal Reserve to continue raising interest rates. The 10-year Treasury yield fell two basis points to 5.25%, supporting risk appetite across global markets.
Major cryptocurrencies broadly advanced. Dogecoin led with gains exceeding 3%, while XRP, BNB, and ZEC each added between 1% and 2%. Ether and HYPE rose less than 1%, while SOL and TRX remained flat.
The climb marks the second attempt in a week to break through the late-September high. Last Wednesday, Bitcoin jumped to $85,500 following a softer inflation report but gave back those gains within hours.
Global equities extended their gains on the softer economic data. The Nasdaq 100 closed at a record on Friday, the MSCI Asia Pacific index rose 1%, and Japan's Nikkei 225 gained 2.5%. The U.S. dollar strengthened as the euro weakened to its lowest level since May 2025.
Bitcoin is approximately $1,300 below its eight-month high. A daily close above $87,000 would represent the first sustained break above the late-September peak.
