BTC pulled back from above $82K toward the $77K-$79K area.
But there is an important counter-signal:
Spot BTC ETFs recorded around $987M in weekly inflows, while realized capitalization also increased.
So the picture is mixed:
Macro = Headwind ETF demand = Supportive
What I'm watching next:
• US PPI & CPI data • Fed communication and rate expectations • BTC reaction around $77K-$82K • Continued ETF inflows • Signs of further liquidation in derivatives
Bottom line: Strong jobs data is limiting BTC's upside for now, but continued ETF demand and on-chain strength could help prevent a deeper breakdown.
The next major catalyst is likely to be US inflation data + the Fed's next policy signal.
This is market analysis, not financial advice. DYOR.