Bitcoin stabilized to a certain extent on Wednesday above USD 100,000, recovering slightly after a drop.
The move reflected broader investor caution across risk assets, as markets digested renewed concerns amid equity corrections and awaited key US economic data.
Bitcoin ETF flows echoed this cautious tone. Spot funds recorded USD 566 million in outflows on Tuesday, the largest in several weeks, underscoring diminished institutional appetite.
Ethereum ETFs also experienced one of their largest outflows since mid-October, totalling USD 219 million on Tuesday.
Traders are now turning their focus to incoming US ADP employment and ISM Services PMI data for direction. The ADP report is expected to show a modest 25K job gain following last month’s steep 32K loss, while the PMI is forecast to tick up to 50.8 from 50.0. Softer readings could strengthen expectations for a dovish Federal Reserve stance, pushing yields lower and providing some relief for Bitcoin and other risk-sensitive assets.
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