Analysis: Bitcoin faces selling pressure related to ETFs around $95,000, which may reinforce its range-bound trading pattern.

Singapore-based crypto investment firm QCP Capital analyzed that Bitcoin stabilized after a slight rebound. This recovery appears to be related to improved risk sentiment rather than specific crypto-related drivers. Meanwhile, the stock market rose slightly, and the market currently estimates an 85% probability of an interest rate cut in December. Inflation remains stubbornly high, and labor market data continues to be weak, including rising unemployment. The balance in statements from Federal Reserve officials has tilted slightly towards easing. Given the limited number of other important economic data releases this week, market attention will turn to the jobless claims and ADP employment report to be released later this week.