Bitcoin remained locked in consolidation below the $70,000 threshold on Tuesday, as sentiment remained subdued.
The market could react to Wednesday’s US nonfarm payrolls report, which has taken on added importance after a series of softer labour indicators and recent remarks suggesting that employment conditions may be weakening faster than previously assumed.
A weaker-than-expected NFP print would likely revive expectations for a more accommodative Federal Reserve stance, improving the backdrop for risk assets such as Bitcoin.
Conversely, resilient labour data would reinforce the Fed’s cautious bias and could keep pressure on non-yielding assets.
Institutional signals remain mixed. Spot Bitcoin ETFs recorded a second consecutive day of inflows, totalling a modest $144 million, but the scale was insufficient to generate upward momentum. Similarly, Strategy’s announcement of a 1,142 BTC purchase failed to move the market, suggesting that corporate accumulation alone is no longer enough to shift sentiment without broader liquidity support.
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