Crypto and global markets react to US economic data

Financial markets are experiencing significant shifts driven by US economic data and cryptocurrency trends. Bitcoin saw a massive surge, with the total crypto market value increasing by approximately $40 billion in a single hour as BTC surpassed $86,000. This rally was supported by US PCE data and disappointing employment figures, which showed only 29,000 jobs created in September against an expected 90,000, alongside a rise in unemployment to 4.2%. These figures have led markets to anticipate a more dovish approach from the Federal Reserve.

In the broader crypto market, altcoins are gaining momentum, with 57 projects outperforming Bitcoin according to the Altcoin Season Index. Meanwhile, the US dollar has reached a 17-month high, which poses challenges for the Polish economy by increasing the cost of imports such as oil and electronics. Additionally, the Warsaw Stock Exchange (GPW) has faced downward pressure, largely driven by the banking sector.