Market commentary from COINOTAG on September 8 highlights that a softer US jobs print has shifted expectations toward a more dovish Federal Reserve, a dynamic that typically buoyed Bitcoin and other risk assets. Analysts note the market has already priced in a degree of easing, while institutional investors are engaging in profit-taking and ETF flows remain relatively steady. Key resistance levels to monitor are $113,400, $115,400 and $117,100, breaches of which would suggest absorption of recent selling pressure and a potential retest of prior highs.
Kronos Research CIO Vincent Liu cautioned that prospective rate cuts could reflect a weakening economy; persistent inflation and conservative risk sentiment may restrain asset appreciation. Absent meaningful expansion in liquidity or a material uptick in ETF inflows, clearing the $120,000 threshold for BTC appears a significant hurdle rather than an imminent outcome.
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Source: https://en.coinotag.com/breakingnews/bitcoin-faces-resistance-at-113400-117100-etf-flows-and-profit-taking-may-keep-price-below-120000-despite-fed-dovish-signals/
