Crypto Market Outlook — 3-9-1
Bitcoin is experiencing heightened volatility as traders await the new US jobs report, with the asset slipping over 10% from its all-time high and breaking key price support levels, confirming a bearish shift for September. Technical indicators and substantial long-term holder liquidations (97K BTC in a single day) reinforce ongoing selling pressures, though analysts note continued accumulation by retail and institutions could prompt a rebound. Meanwhile, Ethereum continues to attract inflows, intensifying a rotation from Bitcoin and leading to record AUM for ETH funds. Macro uncertainty and Fed signaling keep risk appetite subdued, but underlying on-chain metrics for major assets remain robust, hinting at a potential recovery if positive economic data materializes.
The confluence of macro headlines and large movements on the Bitcoin blockchain places the market in a cautious, wait-and-see mode. Institutional interest in Ethereum and ongoing ETF flows show some appetite for risk, but momentum for a major bullish reversal hinges on stabilization in the US economy.