Bitcoin Dey Near $110K Because of ETF Inflows and M2 Growth
Bitcoin nearly reach $110,000, hit three-week high of $109,700 for July 2, as strong spot ETF inflows, Eurozone M2 money supply growth, and weak US labour data boost am rally. Even with dis momentum, professional traders dey cautious: one-month BTC futures annualized premium dey stay below 5% and one-month options delta skew dey near 0%, showing balanced bullish and bearish bets. Meanwhile, Tether (USDT) dey trade at 1% discount to the USD/CNY rate—the biggest gap since mid-May—showing lower demand for China. Traders also see $342 million spot Bitcoin ETF withdrawals amid US-China trade tensions and tariff worries. Mixed signals from ETF flows, derivatives metrics, and stablecoin premiums dey show uncertainty about Bitcoin’s near-term momentum, but low volatility dey give strategic entry chances before key US jobs data.
Neutral
Di news de highlight plenti bullish drivers—spot ETF inflows, Eurozone M2 growth an weak US labour data we fit make Fed policy soft—while e still show caution wit balanced futures an options metrics, stablecoin discounts an big ETF outflows inside trade tension. For short term, traders dey face mixed signs an low volatility, wey dem fit use take enter small small but no clear directional breakout. For longer term, continued ETF inflows an macroeconomic support fit hold rally, but professional traders still dey careful make e dey steady till clear macro signals show.