Markets
Bitcoin Pauses Around 73 000 € Ahead of US Employment Figures
After a rally driven by spot ETFs, Bitcoin consolidates around 73 000 € on the eve of the release of the September Employment Situation report in the United States. Investors are watching these data that could influence rate expectations and, by extension, the liquidity available for risk assets.
On 28 September 2026, Bitcoin was trading around 73 256 € (≈ 83 249 $), up more than 4 % on the previous week, according to a market report dated the same day. The move follows several sessions of gains fueled by flows into US spot Bitcoin ETFs. Analysts cited said, however, that the rally is "taking a pause," with the cryptocurrency now trading in a consolidation zone around its recent highs in euros as well as dollars, in a context of heightened caution across global markets.
According to a daily briefing published on 28 September 2026, US spot Bitcoin ETFs recorded roughly 1,94 to 2,11 Mrd € (2,2 to 2,4 Mrd $) of net inflows over the past week. These amounts confirm institutional demand for the asset, despite the inherent volatility of the crypto market. Several market notes stress that these inflows support Bitcoin's price but remind readers that the ability of these products to absorb potential macroeconomic shocks will largely depend on the future stance of US monetary policy.
A market report dated 28 September 2026 indicates that traders are now turning their attention to the release of the September Employment Situation report, expected on 2 October 2026 at 8:30 (New York time). These US employment figures are a key indicator for the Federal Reserve and could influence rate expectations. A stronger‑than‑expected labor market could bolster expectations of tighter monetary conditions, with a potential impact on the liquidity available for risk assets, including cryptocurrencies.
In this context, Ethereum is showing a more tentative dynamic. On 28 September 2026, the asset was trading around 2 348 € (≈ 2 669 $), according to verified price markers, representing a less pronounced performance than Bitcoin's, despite a similar macroeconomic environment. Another briefing from 28 September 2026 also mentions a tense geopolitical climate, notably in the Middle East, but highlights Bitcoin's resilience, with its price remaining supported by ETF flows. Observers nevertheless stay cautious about the risk of a reversal in the event of a macro or geopolitical shock.
For European investors, the combination of a Bitcoin stabilized around 73 000 €, significant institutional flows via ETFs and the proximity of US employment figures paints a mixed picture. On one hand, demand through regulated products strengthens the asset's credibility among some traditional players. On the other, the increased dependence on macroeconomic data and the trajectory of US rates serves as a reminder that the current valuation remains closely correlated with global liquidity conditions and exposed to short‑term statistical surprises.