Bitcoin Regains$ 117K Level As Fresh Economic Data Flags Weak Growth

Market Overview - Crypto markets are experiencing a positive start, with Bitcoin (BTC) rising nearly 4% to $117,400, marking a strong quarter historically for the sector [1] - Altcoins such as Ether (ETH), Solana (SOL), and Dogecoin (DOGE) have gained 5%-7% in the past 24 hours, outperforming Bitcoin [4] Economic Indicators - Private payrolls in September saw a decline of 32,000 jobs, the largest drop in 2.5 years, with previous gains revised to a loss of 3,000 jobs [2] - The ISM September Manufacturing PMI Survey reported a stable index at 49.1, while the Prices Paid index decreased to 61.9 from 63.7 in August, indicating easing inflation [3] Federal Reserve Expectations - Market participants anticipate further interest rate cuts from the Federal Reserve, with a 99% probability of a 25 basis point cut in the upcoming October meeting, an increase from 92% the previous week [4] - The expectation of interest rate easing is seen as a macro tailwind for the crypto market, potentially signaling the start of a bull market [6] Investment Trends - September was a surprisingly strong month for Bitcoin, gaining about 6%, with significant inflows into spot Bitcoin ETFs totaling $950 million in the last two days of the month [5] - The upcoming quarter is expected to initiate an "alt-season," shifting investor focus from major cryptocurrencies to smaller, more volatile tokens [7]