Bitcoin Holds Above $100K Support After Six-Day Decline

Bitcoin has rebounded from a support level of $114,432 after a six-day decline. However, this recovery does not indicate a strong rally is imminent.

Labor Data Impacts Federal Reserve Speculation

US job growth was weaker than expected, with the unemployment rate rising to 4.2%.
Average hourly wages increased by 0.3%, reflecting a cooling labor market.
These factors may lead the Federal Reserve to pause interest rate hikes or lower them.

A potential shift in central bank policy could attract more institutional investors back into the crypto market.

ETF Inflows Indicate Mixed Market Signals

Spot Bitcoin ETFs in the US saw inflows surpassing $50 billion in June and July, indicating growing institutional interest.
Geopolitical tensions are driving some investors towards Bitcoin as a hedge against instability.

Despite short-term fluctuations, on-chain data shows increasing holder retention and reduced borrowing for risky trades. Analysts believe that as long as Bitcoin remains above $100,000, the overall positive trend may continue, with potential capital influx by Q4 if the Fed adopts a dovish stance.