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Bitcoin eased back toward USD 110,000 on Thursday, pausing after three strong sessions supported by heavy ETF inflows.
US spot funds added USD 300 million on Wednesday following USD 330 million the previous day.
Market liquidations over 24 hours were balanced, reflecting cautious positioning ahead of US labour market data.
Today’s ADP report is expected to show a 65,000 increase in jobs, down sharply from 104,000 last month, following weaker JOLTs data earlier in the week. The deterioration of the labour market has pushed market pricing to a 98% probability of a 25bp rate cut in September, with expectations for an additional cut before year-end.
Fed Governor Christopher Waller reinforced this outlook, calling for immediate easing. This dovish tone could fuel more appetite for risk and support cryptocurrencies. While the market could remain exposed to more corrections in the short term, continued positive fundamentals could fuel a rebound.
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