Bitcoin's price movement today has been influenced by a combination of macroeconomic factors and market sentiment. The release of a stronger-than-expected private payrolls report by ADP has put pressure on Bitcoin, as it suggests that the Federal Reserve might maintain higher interest rates for longer. This has led to concerns about liquidity tightening, which is generally unfavorable for risk assets like cryptocurrencies. Additionally, the ongoing U.S.-China trade negotiations have added to market uncertainty, further impacting Bitcoin's price.
The market is also reacting to the recent release of documents by the FDIC, which revealed past efforts to debank crypto companies. This has created a mixed sentiment in the market, as it highlights regulatory challenges that the crypto industry faces. Meanwhile, BlackRock's plans to launch a Bitcoin exchange-traded product in Europe have not provided enough positive momentum to counteract the broader market pressures. The combination of these factors has contributed to Bitcoin's downward movement today.
Bitcoin's price has decreased by 1.30% today, currently standing at $96,540.74. It reached a high of $98,884.63 and a low of $96,306.90 during the day.