Bitcoin saw a 1.8% increase to $54,440 (BTC-USDT) on Gate.io on Monday morning during European trading hours, bouncing back after a weekend dip. The decline seemed to be triggered by Friday’s underwhelming U.S. jobs report, though analysts remain cautious due to large outflows from spot ETFs and upcoming economic data that could influence market trends.
According to CoinGecko, Bitcoin, the world’s largest cryptocurrency, made a modest recovery after dipping to $53,636 over the weekend.
However, this rise occurred amidst notable outflows from Bitcoin exchange-traded funds (ETFs). Last week, Bitcoin spot ETFs faced net outflows totaling $706 million, with none of the 12 funds recording positive inflows, according to SoSo Value data.
BTC Price Analysis
BRN analyst Valentin Fournier noted that the release of core U.S. Consumer Price Index (CPI) data on Tuesday and the Producer Price Index (PPI) on Thursday will be pivotal. These reports are expected to play a significant role in shapin
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