ETF flows flip: Spot BTC ETFs saw $227 million in outflows yesterday, led by broad selling across eight funds, with IBIT being the only fund to see an inflow. ETH ETFs posted $167 million in net outflows, marking the fourth consecutive day of withdrawals.
Macro catalyst: Nonfarm Payrolls expected at 75k jobs with unemployment ticking up to 4.3%. Fed cut odds at the September meeting remain high, but stronger-than-expected data could pressure crypto.
BTC structure: Price keeps consolidating in the $104K – $116K air gap, with resistance at $114K – $116K, and support at $104K – $108K. Markets remain neutral but fragile, with breakouts likely to dictate the next trend.
