"Bitcoin remained locked in consolidation below the $70,000 threshold on Tuesday, as sentiment remained subdued. The market could react to Wednesday's US nonfarm payrolls report, which has taken on added importance after a series of softer labour indicators and recent remarks suggesting that employment conditions may be weakening faster than previously assumed. A weaker-than-expected NFP print would likely revive expectations for a more accommodative Federal Reserve stance, improving the backdrop for risk assets such as Bitcoin."
"Conversely, resilient labour data would reinforce the Fed's cautious bias and could keep pressure on non-yielding assets. Institutional signals remain mixed. Spot Bitcoin ETFs recorded a second consecutive day of inflows, totalling a modest $144 million, but the scale was insufficient to generate upward momentum. Similarly, Strategy's announcement of a 1,142 BTC purchase failed to move the market, suggesting that corporate accumulation alone is no longer enough to shift sentiment without broader liquidity support."
Bitcoin remained below the $70,000 threshold with subdued sentiment as markets awaited the US nonfarm payrolls report. A weaker-than-expected NFP reading would likely increase expectations for a more accommodative Federal Reserve and improve conditions for risk assets such as Bitcoin. By contrast, resilient labour data would reinforce the Fed's cautious bias and could keep pressure on non-yielding assets. Institutional signals were mixed: spot Bitcoin ETFs recorded modest inflows totaling $144 million, yet the inflows failed to produce upward momentum. A reported 1,142 BTC corporate purchase did not move the market, suggesting accumulation alone cannot shift sentiment without broader liquidity support.
Read at London Business News | Londonlovesbusiness.com
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