TechFlow news, January 8 — QCP Capital's latest analysis indicates that Bitcoin has pulled back to the $95,000 support level due to stronger-than-expected U.S. employment data. JOLTS job openings surged to 8.1 million, surpassing the anticipated 7.74 million. The unexpectedly strong labor market triggered risk-off sentiment, while rising long-term bond yields prompted sell-offs in risk assets.
Bitcoin ETF inflows sharply declined from $987 million to $52.9 million, a 94% drop. Among them, BlackRock’s IBIT recorded significant inflows of $596 million, while ARK and 21Shares’ ARKB saw outflows of $213 million.
QCP Capital believes this week’s FOMC meeting and nonfarm payrolls data will further influence Bitcoin’s trajectory. Market optimism surrounding Trump’s inauguration may boost sentiment, and the current pullback could be setting the stage for a bullish rebound.
