Uncertainty Fuels US BTC-spot ETF Market Outflows

On Wednesday, September 4, the US BTC-spot ETF market saw net outflows of $37.2 million, extending its outflows streak to six sessions.

Weaker-than-expected economic data impacted demand for riskier assets, with investors exercising caution ahead of Friday's critical US Jobs Report.

On Thursday, the Dow Jones and S&P 500 closed with losses of 0.54% and 0.30%, respectively, while the Nasdaq Composite Index saw a gain of 0.25%.

Persistent concerns about a US hard landing (recession) also influenced market sentiment, despite the steady ISM Services PMI, affecting market risk sentiment.

US BTC-spot ETF Market Sees Net Outflows Amidst Weak Demand

On Wednesday, September 4, the US BTC-spot ETF market experienced net outflows to the tune of $37.2 million, extending its streak of outflows to six sessions. This indicated weaker demand for BTC via the spot ETF market, contributing to the negative sentiment.

The US BTC-spot ETF market faced the prospect of a seven-day net outflow streak on Thursday, September 5. According to data compiled by Farside Investors,

Excluding the iShares Bitcoin Trust (IBIT), the US BTC-spot ETFs saw a collective net outflow of $211.1 million on Thursday.

Upcoming US Jobs Report and BTC Trends

On Friday, September 6, the highly anticipated US Jobs Report is expected to influence near-term BTC price trends. Economists anticipate the US unemployment rate to decline from 4.3% in July to 4.2% in August. Moreover, economists predict an increase of 160k in nonfarm payrolls for August, following a 114k rise in July.

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