Bitcoin just dipped below 80k 😱 and those hot US jobs numbers are making another Fed rate hike look way more likely rn fr. Markets are pricing in around 60% odds for a hike on September 16.
Jobs Boom Shakes Up Bitcoin’s Vibe 🖤
The Bitfinex Alpha report dropped that the US added 162000 jobs back in August while unemployment held steady at 4.1%. That kinda screams the labor market is still super strong so the Fed has zero reason to hurry those rate cuts.
Yields Spike Puts Pressure On Crypto Bags 💀
Two year US Treasury yields jumped above 4.34% as traders adjusted their bets and higher rates make boring bonds look tempting over riskier plays like btc tho. Still Bitcoin managed to hold its ground for a bit reaching 82400 on September 3 before sliding back. It’s been chilling in that 77200 to 82100 range ever since ✨.
ETF Flows Keep The Recovery Dream Alive 🌑
Even with the drama btc sits about 42% above its July low and US spot Bitcoin ETFs pulled in nearly 1 billion in net inflows last week.
Inflation Data Could Flip The Script 😈
Bitfinex analysts say this week’s inflation report is gonna be the real test. They’re eyeing if ETF buying stays strong even with short term rates staying high. If the money keeps flowing in then high rates might not even be the biggest blocker for btc’s comeback anymore.
Profit Supply Nears A Key Shift 🦇
Over 71% of Bitcoin’s supply is currently in profit which is creeping toward that historical 74.7% average often seen when things shift from bearish to bullish vibes.
Waiting Game For Fresh Data 📉
Right now btc is stuck between 77200 and 82100 as everyone waits on that inflation print. A weekly close above 82100 could pump the recovery while hotter numbers might push the Fed toward hikes even faster 🤑.
Just another echo from the void by iconofsin.eth 💖
