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Bitcoin has retraced to the $95K support level following hotter-than-expected US job data. JOLTS job openings surged to 8.1 million, surpassing the 7.74 million forecast. The unexpected strength in the labor market fueled risk-off sentiment, triggering a sell-off in risky assets as long-term bond yields spiked.

Bitcoin’s sharp price drop resulted in approximately $206 million in liquidations within an hour. The risk-off ripple effects extended across other financial markets, particularly equities, with the Nasdaq and S&P 500 showing signs of weakness, hovering around 21.2K and 5.9K, respectively.

Bitcoin ETF inflows have plummeted by 94%, dropping to $52.9m from $987m. BlackRock’s IBIT stood out as the sole BTC ETF to record a significant inflow of $596.11m, while ARK and 21Shares’ ARKB led outflows, with $212.55m exiting the fund.

All eyes are on this week’s FOMC and NFP releases, which are expected to further influence Bitcoin’s price trajectory. With market anticipation building, we believe Bitcoin’s pullback is merely a pause, setting the stage for a bullish rally as Trump’s inauguration fuels optimism.

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