The optimistic sentiment from the US June employment report has driven demand for Bitcoin (BTC) and the broader Crypto Assets market. The US BTC Spot ETF report states that, in the context of optimistic economic conditions, capital inflows are strong.
Following an increase of 144,000 in May, non-farm payroll employment rose by another 147,000 in June. The unemployment rate unexpectedly dropped from 4.2% to 4.1%, with a prior decrease in participation rate, while wage growth slowed. Although the employment report lowered expectations for a Fed rate cut, investors still reacted positively to the optimistic non-farm employment data.
According to the CME FedWatch Tool, the likelihood of a rate cut by the Federal Reserve in September dropped from 93.7% on July 2 to 67.2% on July 3.
As a result of the report, BTC climbed to a trading day high of $110,591 on July 3, reflecting investors' confidence in the resilience of the U.S. labor market.
Strong Inflows for US BTC Spot ETF
Signs of a recovery in the U.S. labor market have boosted the demand for BTC Spot ETF, which is a key driver of price trends. According to data from Farside Investors, the major capital flows in the U.S. BTC Spot ETF market on July 3 include:
· Fidelity Wise Origin Bitcoin Fund (FBTC) net inflow of funds is 237.1 million USD
· ARK 21Shares Bitcoin ETF (ARKB) reported a net inflow of 114.2 million USD
· Bitwise Bitcoin ETF (BITB) net inflow of 115.5 million USD
With the release of the flow data for BlackRock iShares Bitcoin Spot ETF (IBIT), the total inflow for the US BTC Spot ETF reached 377.3 million USD, while the total net inflow on Wednesday was 407.8 million USD.
Bitcoin Price Outlook
FXEmpire analyst Bob Mason stated that the recent price outlook depends on several key developments, including US economic data, Federal Reserve monetary policy guidance, legislative news, trade headlines, and ETF liquidity. Possible scenarios:
Bearish scenario: Trade tensions heat up again, legislative hurdles, strong hints from the Federal Reserve, robust U.S. economic data, and outflows from ETF funds. The combined effects of these factors may push BTC towards the 50-day Exponential Moving Average (EMA) and could reach the 100,000 USD level.
Bullish Scenario: Trade agreements reached, bipartisan support for encryption currency legislation, the Federal Reserve issuing dovish signals, soft U.S. data, and ETF fund inflows. In these scenarios, the price of BTC may revisit its historical high of $111,917.
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Bitcoin (BTC) Price Prediction: U.S. June Non-Farm Payrolls Boost Price Rise, Strong Inflow of BTC Spot ETF Funds
The optimistic sentiment from the US June employment report has driven demand for Bitcoin (BTC) and the broader Crypto Assets market. The US BTC Spot ETF report states that, in the context of optimistic economic conditions, capital inflows are strong.
Following an increase of 144,000 in May, non-farm payroll employment rose by another 147,000 in June. The unemployment rate unexpectedly dropped from 4.2% to 4.1%, with a prior decrease in participation rate, while wage growth slowed. Although the employment report lowered expectations for a Fed rate cut, investors still reacted positively to the optimistic non-farm employment data.
According to the CME FedWatch Tool, the likelihood of a rate cut by the Federal Reserve in September dropped from 93.7% on July 2 to 67.2% on July 3.
As a result of the report, BTC climbed to a trading day high of $110,591 on July 3, reflecting investors' confidence in the resilience of the U.S. labor market.
Strong Inflows for US BTC Spot ETF
Signs of a recovery in the U.S. labor market have boosted the demand for BTC Spot ETF, which is a key driver of price trends. According to data from Farside Investors, the major capital flows in the U.S. BTC Spot ETF market on July 3 include:
· Fidelity Wise Origin Bitcoin Fund (FBTC) net inflow of funds is 237.1 million USD
· ARK 21Shares Bitcoin ETF (ARKB) reported a net inflow of 114.2 million USD
· Bitwise Bitcoin ETF (BITB) net inflow of 115.5 million USD
With the release of the flow data for BlackRock iShares Bitcoin Spot ETF (IBIT), the total inflow for the US BTC Spot ETF reached 377.3 million USD, while the total net inflow on Wednesday was 407.8 million USD.
Bitcoin Price Outlook
FXEmpire analyst Bob Mason stated that the recent price outlook depends on several key developments, including US economic data, Federal Reserve monetary policy guidance, legislative news, trade headlines, and ETF liquidity. Possible scenarios:
Bearish scenario: Trade tensions heat up again, legislative hurdles, strong hints from the Federal Reserve, robust U.S. economic data, and outflows from ETF funds. The combined effects of these factors may push BTC towards the 50-day Exponential Moving Average (EMA) and could reach the 100,000 USD level.
Bullish Scenario: Trade agreements reached, bipartisan support for encryption currency legislation, the Federal Reserve issuing dovish signals, soft U.S. data, and ETF fund inflows. In these scenarios, the price of BTC may revisit its historical high of $111,917.
(Source: Trading View)