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Bitcoin(CRYPTO: BTC)weekly spot ETF flows turned negative for the first time in three weeks, putting the key $76,000 support level in focus ahead of the Fed decision.
Spot Bitcoin ETFs recorded $463 million in weekly outflows, removing a key,000 over the previous three weeks
Since August, Bitcoin has been rejected around $82,000 three times but is yet to test the next major downside area around $72,000.
Wintermute Research said on Tuesday that ETF reversal adds another risk as BTC lost $3,500 without the institutional ETF demand that supported its recent rally.
Negative ETF flows prompt Wintermute to shift its crypto outlook to “neutral” from “constructive” early.
Meanwhile, <a href="https://xpertsstudio.com/why-does-<a href="https://xpertsstudio.com/bitcoin-ethereum-etfs-lose-592-million-ahead-of-fed-decision/” title=”Bitcoin, Ethereum ETFs Lose $592 Million Ahead of Fed Decision”>ethereum-native-staking-require-a-32-day-queue/” title=”Why Does Ethereum Native Staking Require a 32-Day Queue?”>Ethereum(CRYPTO: ETH) and other altcoins held up better, with spot ETH ETFs attracting $197 million in weekly inflows.
Are Macro Factors in Play?
Bitcoin remains under pressure ahead of a likely September rate hike.
With a hike largely priced in, BTC’s next move could depend on whether Fed Chair Kevin Warshsignals further tightening into 2027.
Brent crude above $105 and a two-decade high in the 10-year Treasury yield add pressure on Bitcoin.
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