Bitcoin rally cools as April jobs fails to break macro ceiling with Iran tensions and ETF outflows in play
The Block
Bitcoin's price rally stalled following net ETF outflows, ongoing geopolitical tensions in Iran, and persistent macroeconomic concerns regarding interest rates.Summary
Bitcoin's recent rally cooled as the cryptocurrency traded under $80,000 following a significant reversal in spot ETF flows, which saw $277 million in net outflows. Despite a strong April jobs report, the market remains pressured by geopolitical instability near the Strait of Hormuz and a hawkish shift in Federal Reserve rate expectations. Analysts note that the current price action lacks retail participation, relying primarily on institutional buying, which may leave the asset vulnerable to pullbacks toward the $75,000 to $78,000 range.
(Source：The Block)