Bitcoin Slips to $64K as Large Grayscale GBTC Outflows Continue
U.S.-listed spot bitcoin ETFs saw over $830 million of outflows so far this week, and are poised for the first negative week since late January.
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U.S.-listed spot bitcoin ETFs saw over $830 million of outflows so far this week, and are poised for the first negative week since late January.
Bitcoin needs to reclaim the $69,000 level to reignite its uptrend, one trader noted.
Fed policymakers maintained their outlook for three rate cuts by the end of the year, alleviating market risk of a more hawkish stance.
CoinDesk reported Wednesday that the Ethereum Foundation faces a confidential inquiry, and Fortune said the SEC is examining whether ETH is a security.
Disappointing flows into bitcoin ETFs over the past days partly resulted from investors trimming risks ahead of Wednesday’s FOMC meeting, one market observer said.
Momentum behind bitcoin’s rally has waned so expect a period of consolidation, Matrixport analysts noted.
Bitcoin’s price targets $70,000 in the short term and could reach a new all-time high as soon as this week, analysts said.
The cryptocurrency has more room to run, analysts say.
Bitcoin could target $58,000 after the breakout, Swissblock analysts suggested.
The CPI reading reduced expectations for interest-rate cuts in the next months, weighing on risk assets such as crypto.