Bitcoin briefly dropped to $27,000 due to unexpected non-farm payroll numbers, but quickly recovered. The volatility was caused by US employment data, which showed a jump in non-farm payrolls for September. This result was seen as bad for risk assets, including crypto. Traders are now anticipating another rate hike from the Federal Reserve at the November meeting. Bitcoin open interest has been declining, indicating a decrease in market activity. Overall, the market reaction to the employment data has put pressure on both markets and the Fed.
