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Bitcoin steadied above $61,000 and ether held above $1,700 as softer U.S. jobs data cooled expectations for additional Federal Reserve rate hikes, giving the crypto market a modest footing heading into the U.S.
Spot bitcoin exchange-traded funds, which had logged outflows for 10 straight sessions, snapped that streak — a structural shift traders watched as closely as the price move itself.
Soft Labor Data Does the Heavy Lifting The immediate catalyst was on the macro side, not on-chain.
employment figures eased fears that the Fed would need to keep tightening monetary policy, reducing pressure on risk assets broadly.
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