Bitcoin Surges Above $90,000

According to relevant information, Hyperliquid is expected to receive its first AQAv2 reserve revenue allocation tomorrow (October 3). Approximately $14.5 million in passive income generated from the USDC reserve will flow into the Assistance Fund to be used for HYPE repurchases.

The U.S. will release its September nonfarm payrolls report at 20:30 Beijing time on Friday. A latest Reuters poll shows U.S. September nonfarm payrolls are projected to rise by 90,000, a sharp drop from August’s 162,000, while the unemployment rate is expected to hold steady at 4.1% for the third consecutive month. Following the Federal Reserve’s first interest rate hike in three years in September, this report will serve as a key data point to assess whether the labor market remains resilient and whether further rate hikes are needed in October. Markets are not only focused on the new payroll additions. August’s jobs data came in stronger than expected, but some economists argue this may have been distorted by seasonal adjustment factors, raising the possibility that August’s gain could be revised downward when September’s figures are released. Ahead of the September nonfarm payrolls release, market expectations for another Fed rate hike in October have plummeted. As of Thursday, the market priced in a roughly 28% probability of a rate hike at the Fed’s October 27-28 meeting, down from nearly 69% a week earlier. Therefore, the most critical takeaway from tonight’s jobs report is not just whether nonfarm payrolls hit the 90,000 market consensus. Whether the unemployment rate can stay at 4.1%, wage growth will reaccelerate, and August’s robust 162,000 gain will be revised significantly lower will together shape the market’s assessment of the U.S. labor market’s resilience and the Fed’s next policy path.

Per Bitget market data, Hong Kong stocks closed lower, with the Hang Seng Index down 2.6% and the Hang Seng Tech Index down 2.2%. Xiaomi Group closed nearly 4% lower, Seres Group gained over 6%, while Tencent Holdings and Alibaba both dropped more than 2%. Zhipu AI fell 2.26%, and MINIMAX declined 2.96%.

Crypto analyst @AxelAdlerJr says Bitcoin's futures market buy pressure indicator has climbed to 4.9, marking its highest level since August 19. Contract open interest has risen by nearly 9,000 BTC in 24 hours, showing traders are resuming position-building. The buy pressure metric gauges the balance of market buying and selling, weighted by the magnitude of open interest changes. A reading of 4.9 means cumulative pressure over the past 12 hours is nearly five standard deviations above the weekly average. This surge likely coincides with long position establishment and short position liquidations. @AxelAdlerJr notes that if Bitcoin’s price holds above $85,000 even as upward momentum fades, it signals the rally could persist. The key risk for new long positions is a price break below $83,000: liquidations would likely accelerate the decline.

U.S. federal judge Jennifer L. Rochon has dismissed the class-action lawsuit against Libra project organizers Kelsier Ventures, decentralized finance (DeFi) platform Meteora, and developer Benjamin Chow, while rejecting the plaintiff’s request to amend the complaint. The dismissed charges include fraud, violation of the Racketeer Influenced and Corrupt Organizations Act (RICO), breach of New York State General Business Law, and unjust enrichment. The court ruled that the plaintiff failed to prove Meteora constituted a prosecutable unincorporated association or partnership, nor did it demonstrate Kelsier Ventures had a pattern of racketeering activity sufficient to establish a RICO case. The court also noted that Benjamin Chow’s provision of technical assistance prior to token issuance, and Meteora’s collection of transaction fees, were insufficient to prove fraudulent intent. Libra is a token Argentine President Javier Milei once promoted on social media. Estimates show more than 44,000 investors were affected; Milei has since denied responsibility for the investors’ losses. (Bitcoin.com News)

Renowned trader Killa stated in a post that Bitcoin’s trend has clearly shifted, though we remain in the peak phase of “market skepticism toward a bull market”. During the 2023 bull run, going long on each dip to an “established low” (a market-confirmed low that has demonstrated support) saw prices fall at most 8% below that low; in some instances, they only dipped 4–5% before rallying immediately. Our current “established low” stands at $82,500. Based on historical performance, the downward deviation is expected to be minimal. Killa, a BTC-focused quantitative trader who correctly predicted the peak of this bull cycle in May 2025, boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 and shifted to long positions during the broad market sell-off on June 5.