“Bitcoin (BTC) rose to $62,700, gaining 1.32% after the release of a strong U.S. jobs report that eased recession concerns,” analysts reported. According to the Bureau of Labor Statistics, 254,000 jobs were added in the U.S. in September, significantly exceeding the forecast of 140,000. The unemployment rate fell to 4.1%, which was also better than expected.

“These data changed investor expectations regarding the Federal Reserve’s monetary policy,” experts note. The probability of a 50-basis-point rate cut fell to 5%, according to CME Group.