🔥 At 3am UTC, $507M in Bitcoin traded hands, yet the price barely budged, a testament to the cautious mood ahead of Jerome Powell's final Fed meeting, with #BTC trading at $65,010 and #ETH at $1,920, amidst a backdrop of rising #Oil prices.
📊 The total crypto market capitalization stands at $2.64 trillion, with Bitcoin's RSI at 61.8, indicating a bullish trend, while the futures market shows a long/short ratio of 1.12, with top traders net long 60.7%, and the funding rate at +0.0059%, signaling bullish sentiment, as smart money buys into Solana, with RUBY and cat accumulating over $1 million in SOL.
💡 But here's the twist: the structural ETF bid that anchored the recent consolidation has broken, with U.S. spot Bitcoin ETFs logging $263 million in net outflows, ending a nine-day streak that pulled in roughly $2.11 billion, leaving investors wondering if this is a sign of things to come, as the market weighs a potential rate hike and the impact on crypto.
❓ Will Bitcoin hold its ground as the Fed meeting unfolds, or will the cautious mood turn into a full-blown sell-off, and what does this mean for the future of crypto in a rising interest rate environment?
📊 The total crypto market capitalization stands at $2.64 trillion, with Bitcoin's RSI at 61.8, indicating a bullish trend, while the futures market shows a long/short ratio of 1.12, with top traders net long 60.7%, and the funding rate at +0.0059%, signaling bullish sentiment, as smart money buys into Solana, with RUBY and cat accumulating over $1 million in SOL.
💡 But here's the twist: the structural ETF bid that anchored the recent consolidation has broken, with U.S. spot Bitcoin ETFs logging $263 million in net outflows, ending a nine-day streak that pulled in roughly $2.11 billion, leaving investors wondering if this is a sign of things to come, as the market weighs a potential rate hike and the impact on crypto.
❓ Will Bitcoin hold its ground as the Fed meeting unfolds, or will the cautious mood turn into a full-blown sell-off, and what does this mean for the future of crypto in a rising interest rate environment?