Analysts said traders rotated into equity perps before the U.S. jobs report, helping halt extended ETF withdrawal runs for the two largest cryptocurrencies.
Bitcoin and ether ETFs stopped prolonged outflow streaks, ending 13-day and 17-day runs of withdrawals, respectively. Analysts said the shift came as traders rotated into equity perps (perpetual futures, no expiry) ahead of NFP (U.S. nonfarm payrolls jobs report), a closely watched macro release that can reshape risk appetite across crypto and broader markets. The move suggests positioning around macro data may have temporarily interrupted persistent selling pressure in the exchange-traded funds.