Bitcoin stalls near $75,800 as a blowout jobs report lifts December Fed hike odds, with spot ETFs coming off $430 million of outflows

Bitcoin barely moved on Friday's jobs report, which came in far hotter than economists expected. U.S. employers added 165,000 jobs in October, against forecasts of about 59,000 to 65,000, and the unemployment rate slipped to 4.1% from 4.2%, CoinDesk and Bitcoin Magazine reported. September's gain was revised up to 60,000 from 29,000, and average hourly earnings rose 0.4% on the month and 3.1% on the year, CoinDesk said. Bitcoin briefly rose above $76,100 at the 8:30am ET release, then settled near $75,800, Bitcoin Magazine reported; at about 9:30am ET it put the price near $75,500, within a day range of roughly $75,240 to $76,280.

Strong hiring is not simple good news for crypto right now. Bitcoin Magazine said CME FedWatch put the chance of a quarter-point hike on December 9 at about 79%, up from about 70% before the data. Stocks also rebounded: CoinDesk said the Nasdaq was up about 2% shortly before 10am ET, a day after it fell 5.5% in its worst session since April 2025.

Crypto's own flows were weaker. Spot bitcoin ETFs recorded $430.2 million of net outflows on Thursday, CoinDesk said, led by about $200 million from Fidelity's FBTC and $105 million from BlackRock's IBIT, according to Farside Investors data. More than $1.27 billion of derivatives positions were liquidated in 24 hours, about $1.1 billion of them bullish bets. Wintermute's Jasper De Maere told CoinDesk $73,000 and $68,000 are possible downside targets, and that bitcoin would need to reclaim and hold $80,000 to signal renewed strength. CoinDesk expects next week's CPI and PPI reports to weigh on the Fed outlook.