Bitcoin (BTC) briefly climbed above $87,000 on Friday following weaker-than-expected US employment data. On Bitstamp, the price reached $87,229, but did not set new eight-month highs.

September NFP: 29,000 vs. 84,000 expected; August revised lower

September nonfarm payrolls came in at 29,000, compared to a consensus forecast of 84,000. The August figure, which had previously exceeded expectations, was revised down from 162,000 to 133,000. At the Wall Street open, US stock indices rose: the S&P 500 gained 1%, and the Nasdaq Composite was up 1.8%.

Treasury yields fall for a second day; 18% chance of rate hike

Yields on US government bonds continued to decline: the 30-year yield was 5.573%, and the 10-year yield was 5.2%. According to the CME Group's FedWatch tool, the probability of a 0.25 percentage point Fed rate hike in October fell to 18%, down from 64% a week earlier.

Resistance at $87,300 capped gains; support at $82,800

BTC's rally met strong supply near $87,300, preventing the price from surpassing September’s multi-month highs and leading to a pullback below $86,000. QCP Capital noted that falling yields could serve as a "clear catalyst" for further BTC gains. Trader Aksel Kibar pointed out that the daily chart has already seen a successful retest of support in the $82,800 area.