"Bitcoin traded higher on Thursday, holding near USD 103,000, as markets welcomed news that US President Donald Trump signed a bill ending the record 43-day government shutdown. The resolution lifted sentiment, with traders now turning their focus to the backlog of data releases. The data could offer new insight into labor market conditions and could influence the Federal Reserve's next policy move. Softer figures could reinforce expectations for another rate cut in December, lending support to Bitcoin and other risk assets."
"However, ETF flows remained inconsistent while the cryptocurrency remained in a correction. Spot Bitcoin ETFs recorded USD 278 million in outflows on Wednesday, signalling another pause in institutional participation after the previous day's inflows. The end of the shutdown offers short-term relief, but traders remain cautious ahead of upcoming economic data and any guidance from the Federal Reserve, which could be pivotal for Bitcoin's next move."
Bitcoin traded around USD 103,000 after the US government shutdown ended, with sentiment improving as traders shifted focus to a backlog of economic data releases. The upcoming data could reveal labor market conditions and influence the Federal Reserve's policy path; softer figures could strengthen expectations for another rate cut in December and support Bitcoin and other risk assets. Spot Bitcoin ETFs experienced USD 278 million in outflows, reflecting inconsistent institutional participation amid a broader market correction. The shutdown's end provides short-term relief, but traders remain cautious ahead of key economic releases and any Federal Reserve guidance that could determine Bitcoin's next direction.
Read at London Business News | Londonlovesbusiness.com
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