Bitcoin ETF Inflows Surge Amid Oil Negotiation Uncertainty

A prolonged conflict in oil negotiations may keep prices high and lead to higher inflation than expected, potentially hindering risky assets like Bitcoin.

However, recent data shows strong net inflows to Bitcoin exchange-traded funds (ETFs), with $770 million flowing into these vehicles over the first four business days of September.

The jobs report from last week has also pushed the odds of a rate hike during the next Federal Open Market Committee (FOMC) meeting back up to 58%, potentially tightening financing conditions and reducing market liquidity, which is not favorable for Bitcoin.