Markets remain on edge in the wake of last week’s sharp sell-off across risk assets A stronger-than-expected U.S. jobs report dampened expectations for a rate cut next month, applying further pressure on risk-sensitive assets and complicating the near-term outlook for monetary policy
Bitcoin (BTC) has retraced from earlier lows near $60,000 but is now trading around $66,000–$68,000 after a brief rebound that failed to hold above a key confluence zone (more below)
This renewed bearish momentum spilled over into the broader crypto market, with Ether (ETH) breaking below the psychological $2,000 level and many altcoins posting negative weekly gains
Precious metals have held up better as safe-haven seekers rotated capital
Gold has reclaimed the $5,000 support, and silver remains firm above ~$80
Global equities remain mixed: major indices have seen bouts of strength (e.g., the Dow pushing record territory amid tech rebounds), yet broader risk appetite remains fragile as upcoming inflation data and earnings reports weigh on sentiment
Overall correlation across asset classes remains elevated, with macro releases (especially U.S. labor and upcoming inflation prints) continuing to drive cross-market volatility. Investors are waiting for clearer signals on monetary policy before committing aggressively to risk assets
U.S. spot Bitcoin ETFs briefly snapped a longer outflow trend with recent inflows (including back-to-back positive days earlier this week totaling $616 million), offering temporary liquidity as Bitcoin bounced from sub-$60,000 lows. However, inflows have stalled over the last two days, shifting back to net outflows and reducing supportive buying from institutions
As a result, Bitcoin has now dropped below the prior cycle's all-time high of ~$69,000 (November 2021) and the 200-week EMA, a level which has historically acted as a reliable floor during previous corrections
With Bitcoin trading beneath this critical level, the structure has weakened considerably. For bulls, a swift reclaim of this zone will be vital to avoid further downside back toward the $60,000 support
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