Crypto Market Reels from US Jobs Shock, ETF Flows Reflect Investor Sentiment

The global cryptocurrency market value dropped by 1.5% in 24 hours, reaching $2.98 trillion. This decline was reflected in the prices of major cryptocurrencies, with Bitcoin (BTC) down 1.2% at $84,649.94, Ethereum (ETH) down 1.8% at $2,677.10, XRP down 2.0% at $1.49, and Solana (SOL) down 2.1% at $119.09. The US jobs report added extra pressure, with nonfarm payrolls growing by just 29,000 in September, below the 90,000 forecast.

Bitcoin and Solana ETFs saw inflows of $31.69 million and $1.30 million, respectively, while Ethereum and XRP ETFs experienced outflows of $17.25 million and $3.28 million. This split in investor sentiment was influenced by the weak US employment data, which raised hopes of a Fed rate cut. The next Fed meeting will be crucial in determining the direction of cryptocurrency prices.

Strive's $SATA has started building a Bitcoin position, with $STRC pushing toward $100 par. This development indicates that long-term confidence in Bitcoin has not fully faded. On the other hand, the wallet ens.eth sold 1,097 ETH worth $3 million at $2,743 apiece, cooling short-term confidence in Ethereum.

The upcoming SEI ETF launch may decide whether the market recovery holds or fades. The crypto market is closely watching the next Fed meeting, which will shape price direction. As the US employment data cuts both ways, the cryptocurrency market remains volatile, with prices and flows changing rapidly.