Bitcoin climbed about 3% in October as investors awaited September’s U.S. employment report, even as rising Treasury yields and a firmer dollar continued to weigh on broader financial markets.

BTC briefly touched $86,885 on Friday before easing back toward $86,000. The move left Bitcoin roughly 1.5% higher over the past 24 hours and about 3% higher for October.

Economists expect the U.S. unemployment rate to remain unchanged at 4.1%. September nonfarm payrolls are projected to rise by 90,000, compared with 162,000 additions in August.

Higher Treasury yields have helped keep Bitcoin’s recent trading range intact. The 10-year U.S. Treasury yield climbed to 5.34%, a multidecade high, while BTC remained largely between $82,000 and $85,000 during the week. Bond prices and yields move in opposite directions, and higher yields can translate into increased borrowing costs.

The dollar also extended its advance, with the DXY briefly moving above 102 on Thursday to reach an 18-month high. A stronger dollar generally puts pressure on risk-sensitive assets, although Bitcoin continued to gain. The euro fell to around $1.12, its weakest level since May 2025.

Pressure on the euro has been reinforced by concerns over France’s public finances. French five-year credit default swaps reached a multiyear high, while the gap between French and German 10-year government bond yields widened to its largest level in 14 years.

French borrowing costs have moved above those of Italy and Greece, according to Bloomberg’s Lisa Abramowicz. French bond yields are also carrying their largest premium over German bunds since the European debt crisis. France remains among the European Union’s countries with the largest fiscal deficits.