Recent macroeconomic data, including bad job figures in August, have led to increased expectations of US rate cuts. Market analysts have already made three moves towards a lower rate in 2025, though some have even priced higher rates of reduction. Such a shift in policy has increased the appeal of Bitcoin as a potential inflation hedge.
On September 6, Bitcoin traded, and ETFs were selling into the market. The broader market sentiment is driving the price. The supporting technical indicators may point to stability in the range of $107,500, and the most crucial support level is 100,000. Ether, priced at approximately $4,300, performed worse in the same season, signaling institutional convergence in favor of Bitcoin ETFs as the digital haven of choice.