What Will Save Bitcoin and Cryptocurrencies from the Rope: QCP Interpreted the Decline with the US! - Coin Bulletin

Analysis platform QCP Capital commented on the recent decline in cryptocurrencies.

According to QCP Capital, Bitcoin retreated to the support level of $95,000 after higher-than-expected US employment data. According to JOLTS labor data, job openings rose to 8.1 million, significantly above the estimated 7.74 million.

Analysts emphasized that this unexpected strength in the labor market, along with the rise in long-term bond yields, fueled a sell-off in risky assets by increasing risk aversion sentiment.

Bitcoin's sharp price drop led to approximately $206 million worth of liquidation in just one hour. The effects of this risk aversion were particularly evident in the stock market. The Nasdaq and S&P 500 indexes fell to levels of 21,200 and 5,900, respectively, reflecting a weak outlook.

Bitcoin ETFs are bleeding

Please provide the text to be translated. Entries into Bitcoin ETFs have decreased by 94%, dropping from $987 million to $52.9 million. BlackRock's IBIT ETF stands out with a significant entry of $596.11 million, while ARK and 21Shares' ARKB ETF led the way with an outflow of $212.55 million.

All eyes are turned to the FOMC and NFP data to be released this week. As market expectations increase regarding these data, it is believed that Bitcoin's pullback is only a short-term pause.

After Trump's re-inauguration, a positive atmosphere may begin to prevail in the market, which could herald a new bull rally for Bitcoin.

BTC2.05%
G-1.75%
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