ETFs bleed, keeping bitcoin (BTC) price in stasis: Crypto Daybook Americas

Bitcoin (BTC) traded between $86,000 and $88,000, showing little reaction to U.S. jobs data that suggested potential Fed rate cuts. This stasis is attributed to market exhaustion and focus on internal liquidity rather than macro releases. Adding to the pressure, U.S.-listed spot bitcoin ETFs bled $227 million on Tuesday, following $357.69 million in outflows the previous day, totaling over $584 million lost in two days, which is more than double the previous week's net inflow. This significant institutional outflow suggests weakened appetite for BTC, leaving the market fragile. Options market data suggests near-term trading expectations between $85,000 and $100,000. In the broader market, most top 100 tokens were down, though Cardano-based NIGHT gained 9%. Technical analysis notes that USDT dominance has broken a three-year descending trendline, which historically signals a bear market scenario.

(Source：CoinDesk)