Bitcoin Price Rallies To $81K On Biggest ETF Inflows Since January, Waller Rate Signal Ahead Of August Jobs Report

The rally in cryptocurrencies came after Fed Governor Christopher Waller said he would support holding rates steady if inflation continues to ease.

• U.S. spot Bitcoin ETFs recorded $730.9 million in net inflows Thursday, their biggest single-day inflow since January 14.
• Ethereum and XRP outperformed Bitcoin, while privacy-focused Zcash and Dash ranked among the strongest gainers across the top 100 cryptocurrencies.
• Large-cap crypto-linked equities, including BMNR, COIN, CRCL and MSTR, traded lower in pre-market trading.

Bitcoin (BTC) rallied to over $81,000 on Friday morning, and BTC spot exchange-traded fund (ETF) inflows hit a nine-month high after Fed Governor Christopher Waller said he would support holding rates steady if price pressures kept easing. 

Bitcoin’s price rose over 4.3% in the last 24 hours, trading at around $81,100 after hitting an intra-day high of over $82,000. On Stocktwits, retail sentiment around the apex cryptocurrency improved to ‘neutral’ from ‘bearish’ territory over the past day.

The rally coincided with more than $730 million flowing into spot Bitcoin ETFs, marking their biggest single-day inflow since January 14, when inflows reached $843 million.

The market is now watching for August’s jobs report, with the market expecting the unemployment rate to be around 4.1% and hiring of 53,000 jobs.