The July jobs report stumbled with a 23,000 loss, but the weak data provides a silver lining: erasing fears of a September rate hike. With the Fed now expected to hold rates steady instead of raising them, conditions remain favorable.
Crypto Fear & Greed slipped from 73 to 69, out of the greed band. Bitcoin eased 1.1% to $78,384 with 5-day ETF flows still positive +$987M. All eyes on Thursday's August PPI at 8:30 AM ET.
Markets consolidate ahead of the upcoming PPI release in five days. Bitcoin held steady near $79,734, backed by $987M in 5-day ETF inflows.
US Services PMI data reported today, and August accelerated to 55.4% on the back of strong business activity, cleanly offsetting a slight moderation in manufacturing to 54.6%. Both sectors holding comfortably in expansion territory.
Equities rebounded and Bitcoin held steady at $77,408. BTC ETF flows are cooling down +$804M to +$253M, a 69% decrease in five-day inflows. Corporate credit spreads remain near cycle lows at 2.65%, providing steady macro support while the system pauses ahead of tomorrow's key economic print.