Jobs Report Flexes Harder Than a Risk Asset: $BTC Takes the Hit

The US economy added 165,000 jobs in October, nearly three times the 59,000 forecast, as unemployment fell to 4.1% and pushed December Federal Reserve interest-rate hike odds higher. The Bureau of Labor Statistics (BLS) report was released at 8:30 a.m. ET on November 6, 2026, five weeks before the Federal Reserve’s December 8 and 9 meeting.

The headline hiring figure topped economists’ expectations of 59,000 to 65,000 jobs, while unemployment came in below the 4.2% forecast. August and September payrolls were revised up by a combined 84,000, lifting the three-month hiring average to about 137,000. Average hourly earnings rose 0.4% in October and 3.1% from a year earlier, exceeding forecasts of 0.3% and 2.9%. Before the report, Barclays said a 4.1% jobless rate with only modest job gains would keep a December hike in play.

Gold fell to about $4,032 an ounce within minutes of the release, down from roughly $4,062 beforehand, before recovering to about $4,050. BeInCrypto has tracked a 31% decline from the metal’s peak. $BTC briefly climbed above $76,100, then dropped to about $75,600 and traded near $75,780 on Binance, roughly 0.2% below its pre-release level. The US Dollar Index (DXY) jumped to about 102.22 before settling near 102.14, compared with 102.07 before the data, according to TradingView.

Traders had priced a 67% chance of a quarter-point hike at the December 8 and 9 meeting before the report, based on CME FedWatch figures. Those odds rose to 76.8%. The Fed raised rates in September for the first time in three years and held its range at 3.75% to 4.00% on October 28.

US equities also opened lower at 9:30 a.m. ET. The Nasdaq Composite had fallen 5.52% on Thursday, entering Nasdaq correction territory, while the S&P 500 closed at 7,353.73. Strong hiring gives the Fed room to raise rates, which can lift the dollar and weigh on non-interest-bearing assets such as gold and $BTC.