$BTC BITCOIN NEAR US$ 77 MIL: EMPLOYMENT DATA CAN DETERMINE THE NEXT MOVE
Bitcoin remains close to US$ 77.7k after losing the US$ 80k region. The market is now focused on U.S. employment data, especially Friday’s payroll, which could directly influence expectations for Federal Reserve monetary policy. 📊
💰 Spot Bitcoin ETFs recorded approximately US$ 236 million in outflows on September 1, with BlackRock’s IBIT accounting for most of the withdrawals. However, the following day, flows returned to positive territory, with about US$ 101 million in inflows, showing that institutional demand continues to fluctuate.
🏦 On the macro front, the possibility of a rate hike in September gained momentum. Markets priced in roughly a 60% probability of a rate increase, while the Fed continues assessing inflation, employment, and economic activity.
📈 Weaker payroll: could reduce pressure for a more restrictive monetary policy and favor risk assets, making room for a recovery toward US$ 80k.
📉 Stronger payroll: could reinforce the outlook for high rates for longer, increasing pressure on BTC and putting the US$ 76k region back on the radar.
🔎 Technically, recent analyses point to US$ 75,674 and US$ 71,781 as important levels if the correction gathers strength. On the upside, the area near US$ 82,793 appears as a relevant resistance.
⚠️ With employment, rates, ETFs, and institutional liquidity influencing the market at the same time, Friday’s report could be one of the main catalysts for Bitcoin’s short-term direction.
#bitcoin #BTC #etf
Bitcoin remains close to US$ 77.7k after losing the US$ 80k region. The market is now focused on U.S. employment data, especially Friday’s payroll, which could directly influence expectations for Federal Reserve monetary policy. 📊
💰 Spot Bitcoin ETFs recorded approximately US$ 236 million in outflows on September 1, with BlackRock’s IBIT accounting for most of the withdrawals. However, the following day, flows returned to positive territory, with about US$ 101 million in inflows, showing that institutional demand continues to fluctuate.
🏦 On the macro front, the possibility of a rate hike in September gained momentum. Markets priced in roughly a 60% probability of a rate increase, while the Fed continues assessing inflation, employment, and economic activity.
📈 Weaker payroll: could reduce pressure for a more restrictive monetary policy and favor risk assets, making room for a recovery toward US$ 80k.
📉 Stronger payroll: could reinforce the outlook for high rates for longer, increasing pressure on BTC and putting the US$ 76k region back on the radar.
🔎 Technically, recent analyses point to US$ 75,674 and US$ 71,781 as important levels if the correction gathers strength. On the upside, the area near US$ 82,793 appears as a relevant resistance.
⚠️ With employment, rates, ETFs, and institutional liquidity influencing the market at the same time, Friday’s report could be one of the main catalysts for Bitcoin’s short-term direction.
#bitcoin #BTC #etf