Bitcoin Holds Near $75,000 Following Strong October Jobs Report

October jobs report — Bitcoin‘s price remained near $75,500 on Friday, showing a muted reaction to a hotter-than-expected U.S. jobs report for October that reinforced expectations for a Federal Reserve interest rate hike in December.

U.S. employers added 165,000 jobs last month, nearly triple the forecast, while the unemployment rate edged down to 4.1%. Average hourly earnings also rose more than anticipated. Following the data release, Bitcoin briefly spiked above $76,100 before settling back near $75,800.

The market’s reaction was subdued, fitting a pattern where major macro prints have recently had less impact on Bitcoin than broader equity market moves. The data did, however, increase market-implied odds of a 25-basis-point Fed rate hike in December to roughly 79%, up from about 70% prior.

Bitcoin continues to trade in correlation with tech-heavy equity indices, which suffered a significant rout on Thursday. U.S. spot Bitcoin ETFs recorded $430.2 million in net outflows that day, contributing to week-to-date redemptions of approximately $870 million. Traders are now watching to see if Bitcoin can defend the mid-$75,000 support level that has held since August.