"Bitcoin traded near USD 113,000 on Wednesday, recovering part of its recent losses after slipping below USD 110,000 earlier in the week. The rebound followed dovish remarks from Federal Reserve Chair Jerome Powell and renewed inflows into US spot Bitcoin ETFs, which added USD 102 million on Tuesday after two straight sessions of outflows. Liquidations over the past 24 hours were evenly balanced between longs and shorts, underscoring a tentative stabilization in market positioning."
"Powell's comments suggested growing concern over downside risks to employment and softer labour market dynamics. He noted that payroll gains have slowed sharply, that inflation remains driven largely by tariffs rather than demand, and that the Fed is moving "toward a more neutral policy stance." Markets expect the central bank to extend rate cuts, potentially supporting riskier assets like cryptocurrencies."
"Still, sentiment remains cautious amid renewed trade tensions. President Trump threatened to "terminate business with China", calling Beijing's actions "economically hostile." The escalation revived fears of another round of tariff retaliation, keeping investors wary and likely extending Bitcoin's consolidation phase."
Bitcoin traded near USD 113,000 after rebounding from a slide below USD 110,000 earlier in the week. The rebound followed dovish remarks from Federal Reserve Chair Jerome Powell and renewed inflows into US spot Bitcoin ETFs that added USD 102 million after two sessions of outflows. Liquidations over the past 24 hours were evenly balanced between longs and shorts, suggesting tentative stabilization in market positioning. Powell noted payroll gains have slowed, that inflation is driven largely by tariffs rather than demand, and that the Fed is moving toward a more neutral policy stance, prompting expectations of extended rate cuts. Renewed trade tensions and threats to "terminate business with China" revived fears of tariff retaliation, keeping investor sentiment cautious and likely extending Bitcoin's consolidation phase.
Read at London Business News | Londonlovesbusiness.com
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