Bitcoin trades near $81K despite strong US jobs data; ETF inflows and CLARITY Act optimism support sentiment
Synopsis
Bitcoin hovered near $81,000 despite strong US jobs data, buoyed by robust ETF inflows and optimism surrounding the CLARITY Act vote. Analysts note institutional demand remains strong, with the week ahead focused on CPI data and Fed signals. Geopolitics and macroeconomic factors are key drivers for the volatile crypto market.
Bitcoin traded near the $81,000 mark on Monday despite strong US jobs data, while the market sentiment remained supported with strong ETF inflows and optimism around the Senate’s upcoming vote on the CLARITY Act. The cryptocurrency was trading at the $80,781 mark.
In the past 24 hours, Bitcoin slipped 0.03% whereas Ethereum was up 0.2% to trade at $2,333. Among the major altcoins, XRP, BNB, Solana, Dogecoin, Cardano gained up to 2.5% whereas Hyperliquid went down 2%.
Also Read | Rajeev Thakkar and Sankaran Naren see value in IT despite AI disruption concerns
Akshat Siddhant, Lead quant analyst, Mudrex said that Bitcoin is holding above the $81,000 level despite stronger-than-expected U.S. nonfarm payroll data reducing expectations of near-term rate cuts. The market sentiment, however, remained supported by optimism around the Senate’s upcoming vote on the CLARITY Act, which helped sustain buying interest over the weekend.
Crypto TrackerTOP COINS (₹) XRP138 (3.12%)BNB62,038 (1.41%)Ethereum222,139 (1.07%)Bitcoin7,694,832 (0.94%)Tether95 (0.77%)
Siddhant further said that institutional demand stayed strong, with Bitcoin ETFs recording $630 million in net inflows last week. The week ahead will be driven by macro triggers, with the CPI data and the Fed leadership change influencing the market direction.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details »
Live Events
The global crypto market capitalisation went up 0.08% to $2.69 trillion, according to .
Bitcoin price corrected as oil surged 3% after Trump rejected Iran’s response to the US peace proposal, while rapidly depleting world oil reserves indicate a volatile phase ahead, according to CoinDCX Research Team.
In the past week, Bitcoin was up 0.6% whereas Ethereum slipped 2%. Among the major altcoins, XRP, BNB, Solana, Tron, Cardano rallied up to 11% whereas Dogecoin and Hyperliquid were down 3.5% and 0.6% respectively.
CoinSwitch Markets Desk said Bitcoin traded above the $82K level over the weekend as investors prepared for a key week of U.S. economic data as markets closely watch upcoming inflation readings, including CPI and PPI, along with OPEC’s oil outlook, as these releases could influence expectations around future Federal Reserve rate cuts.
What other analysts are saying
Vikram Subburaj, CEO, Giottus
The asset continued its recovery above the important $80,000 level after experiencing volatility last week. The market stabilised as institutional participation remained relatively resilient despite softer ETF flows and rising caution ahead of key U.S. inflation data.
Also Read | Navneet Munot, Nilesh Shah, and Kalpen Parekh caution investors against chasing unrealistic returns
Avinash Shekhar, Co-Founder & CEO, Pi42
The crypto market is currently moving at the intersection of geopolitics, macroeconomic data, and liquidity expectations. Bitcoin, which is currently trading above the $80,000 mark, and Ethereum continue to witness heightened volatility as investors closely monitor developments around the US-Iran conflict, upcoming US CPI data, and signals from the Federal Reserve on interest rates.
WazirX Market’s Desk
Technical indicators continue to support a positive setup, with the RSI at 63.29 indicating healthy momentum and the moving averages leaning toward a buy bias. Dips around the $80K level may be seen as accumulation opportunities if broader momentum holds.
Riya Sehgal, Research Analyst, Delta Exchange
Bitcoin and Ethereum are consolidating after a sharp recovery rally, with markets pausing near resistance as traders assess macro and regulatory developments. The dormant whale transfer of 500 Bitcoin is notable for sentiment, but not large enough on its own to change broader market structure unless followed by exchange inflows or sustained selling pressure. Markets are also watching Washington, where progress on the CLARITY Act could support regulatory certainty for digital assets and stablecoins.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle
