Markets analysis on behalf of Christopher Tahir – Senior Market Strategist at Exness
Bitcoin was relatively stable and remained below the USD 115,000 mark as risk appetite receded. Although it stayed within a range of USD 112,000 to USD 115,500, bitcoin could remain volatile. Concerns about weakening economic indicators dampened demand for risk assets and led to significant outflows from BTC ETFs, although they have started to slow down and a return of inflows could help drive the market to the upside.
At the same time, the U.S. Securities and Exchange Commission issued updated guidance on liquid staking this week, clarifying that certain staking arrangements do not involve the offer and sale of securities under federal law. The announcement has revived expectations for Ethereum-based ETFs that offer staking exposure. Ethereum ETFs saw a return of inflows, which could help support the asset.
Investors could continue to monitor new economic data to assess the strength of the US economy. Job market data could affect sentiment and expectations around US monetary policy. While economic risks could weigh on the market, expectations of lower interest rates could support risk appetite.
Zaid Barem / ymm
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