"Bitcoin stabilized to a certain extent on Wednesday above USD 100,000, recovering slightly after a drop. The move reflected broader investor caution across risk assets, as markets digested renewed concerns amid equity corrections and awaited key US economic data. Bitcoin ETF flows echoed this cautious tone. Spot funds recorded USD 566 million in outflows on Tuesday, the largest in several weeks, underscoring diminished institutional appetite."
"Ethereum ETFs also experienced one of their largest outflows since mid-October, totalling USD 219 million on Tuesday. Traders are now turning their focus to incoming US ADP employment and ISM Services PMI data for direction. The ADP report is expected to show a modest 25K job gain following last month's steep 32K loss, while the PMI is forecast to tick up to 50.8 from 50.0."
Bitcoin stabilized above USD 100,000, recovering slightly after a drop. Broader investor caution weighed on risk assets amid equity corrections and anticipation of key US economic data. Spot Bitcoin ETFs saw USD 566 million in outflows on Tuesday, the largest in several weeks, indicating reduced institutional demand. Ethereum ETFs recorded USD 219 million in outflows on Tuesday, one of their biggest since mid-October. Traders are focused on incoming US ADP employment and ISM Services PMI reports. Consensus forecasts call for a 25K ADP job gain and a PMI of 50.8. Softer readings could bolster expectations for a dovish Federal Reserve, lowering yields and easing pressure on risk-sensitive assets including Bitcoin.
Read at London Business News | Londonlovesbusiness.com
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