Bitcoin · Bitcoin ETF · Federal Reserve (FED) · CryptoSlate
Bitcoin’s $85,000 recovery awaits proof that ETF investors kept buying after payrolls
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Bitcoin's recovery above $85,000 faces a demand test after a sharp fall in bets on another Federal Reserve rate hike.
Key facts
- Glassnode measured $50 million of short liquidations in ten minutes at 04:20 UTC on Oct. 2, eight hours before the jobs release
- The Institute for Supply Management's September services report is scheduled for Monday, Oct. 5 at 10:00 a.m
- Bitcoin was $85,276 around press time, up 0.83% over 24 hours
- Bitcoin stood above $85,000 in Sunday's snapshot but below its pre-payroll $86,000 area
Summary
01 Glassnode's estimated October hike risk fell sharply, yet Bitcoin retreated after payrolls and remains below its pre-release area. 02 Thursday's Bitcoin ETF inflows offer a buying signal, but Friday's missing IBIT entry leaves post-payroll fund demand unresolved. 03 Monday's services data and subsequent ETF sessions will test whether policy relief is accompanied by sustained buying. Bitcoin was $85,276 around press time, up 0.83% over 24 hours.