US factory orders rise 0.1% in August, meeting estimates
US factory orders increased 0.1% in August, matching expectations. Durable goods orders were revised slightly lower, while core capital goods orders held atā¦
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September Jobs Miss by 61,000 Sends Bitcoin and Gold Higher
US added only 29K jobs in September, missing forecasts by 61K. Bitcoin and gold jumped, and $27.5M in short BTC bets were liquidated.
02/10/2026 13:119 min read
US employers added just 29,000 jobs in September, far below the 90,000 economists had projected. Markets reacted positively despite the shortfall.
What looked like bad news for the labor market turned into a rally for Bitcoin (BTC) and gold. Both assets surged within minutes of the release. Short sellers betting against Bitcoin took heavy losses.
A Miss of 61,000 in the Jobs Report
The Bureau of Labor Statistics (BLS), the federal agency responsible for tracking employment, published the data at 8:30 a.m. ET on Friday.
The unemployment rate ticked up to 4.2%, compared with the 4.1% forecast. In August, employers had added 162,000 jobs, according to the initial estimate.
SEPTEMBER U.S. JOBS REPORT š
ā Wall St Engine (@wallstengine) October 2, 2026
NONFARM PAYROLLS +29K, (Est. +90K)
UNEMPLOYMENT RATE 4.2%, (Est. 4.1%)
AVG. HOURLY EARNINGS YoY 3.0%, (Est. 3.1%)
PARTICIPATION RATE 61.8%, (Est. 61.6%)
PRIVATE PAYROLLS +46K, (Est. +81K)
AVG. WORKWEEK 34.4 HOURS, (Est. 34.3)
GOVERNMENTā¦
The BLS noted that hiring āchanged littleā across all major industries.
Why Weak Jobs Data Pushed Bitcoin and Gold Up
Gold moved from roughly $4,178 an ounce to $4,227 within minutes, as shown by TradingView data. Bitcoin climbed from about $86,450 to nearly $87,230.
Bitcoin was last seen at $86,767, up 3.48% on the day, based on live Bitcoin price data.
That marked the second such move this week. On Wednesday, both assets had spiked shortly after a key US inflation gauge cooled to 3.4%.
$27.5 Million in Short Bitcoin Bets Erased
Many crypto traders use borrowed funds to wager on price direction. If the market moves against them, the exchange closes the position and the money is lostāa process known as liquidation.
Over the last hour, $32.51 million worth of such positions were liquidated, according to CoinGlass. Of that, roughly $27.53 million came from traders who had bet on falling prices.
Bitcoin accounted for $20.5 million of those losses by itself.
December Fed Outlook After the Jobs Miss
The Federal Reserve raised interest rates in September. Higher rates make savings and bonds more attractive compared with gold or Bitcoin, which offer no interest.
J.P. Morgan still anticipates another hike in December. In the meantime, 10-year Treasury yields reached their highest point in 24 years this week.
The Fed now heads toward that December decision with a slowing labor market added to its concerns.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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