Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
Market watchers are zeroing in on the upcoming U.S. jobs report, which could influence the Federal Reserve’s timeline for interest rate cuts—and in turn, crypto momentum.
Bitfinex analysts suggest a weaker-than-expected labor print may fuel speculation of earlier monetary easing, potentially driving Bitcoin up toward $125,000. But if job creation surprises to the upside, it could bolster the dollar and stall crypto gains, with BTC possibly slipping below $100,000.
Meanwhile, sentiment is softening beneath the surface. BRN’s Valentin Fournier points to a surge in crypto IPO activity—like Circle’s $1B share sale and Kraken’s rumored listing—as evidence that major players are taking advantage of peak valuations. Slowing inflows into Bitcoin and Ethereum ETFs support that view, with daily allocations dropping sharply over the past week.
Prices have reflected the shift: Bitcoin is down 3.5%, Ethereum has fallen 4.3%, and Solana has plunged nearly 12%, signaling a market losing steam despite positive macro signals. For some, that’s a cue to reduce exposure and wait for stronger conviction to return. The coming jobs data may offer clarity—or deepen the sense that crypto’s recent highs were running on fumes.
Bitcoin’s network hashrate has fallen 3.5% since mid-June, marking the sharpest decline in computing power since July 2024.
Bitcoin has officially overtaken Alphabet (Google’s parent company) in global asset rankings, becoming the sixth most valuable asset in the world, according to the latest real-time market data.
Philippe Laffont, the billionaire behind Coatue Management, is beginning to question his stance on Bitcoin.
Personal finance author Robert Kiyosaki is urging investors to rethink their approach to money as digital assets reshape the economic landscape.