The Fed stood pat on October 28. Spot Bitcoin ETFs saw net inflows for two consecutive days, while the divergence in fund flows continued.
1. Interest rates: On October 28, the Fed held the federal funds rate steady at 3.75%–4.00%. The vote was 10–2, with Cook and Hammack favoring a 25-basis-point hike. The statement said inflation remains elevated and that more data are needed to determine the next steps.
2. Bitcoin ETFs: Net inflows were about $110 million on October 26 and $176 million on October 27, totaling about $286 million over the two days. October's net outflows narrowed to about $26 million. Bitcoin ETFs had seen outflows of about $635 million on October 22, and the two days of inflows are not yet enough to confirm a trend.
3. Ethereum ETFs moved in the opposite direction: Combined net outflows on Monday and Tuesday were about $149 million. October's cumulative net outflows reached about $1.32 billion, marking four consecutive weeks of outflows.
4. Prices: Bitcoin closed at about $81,254 UTC on October 28, up about 0.8%, with an intraday range of $80,330–$81,632. Ethereum closed at about $2,357, up about 0.6%. Total crypto market capitalization was about $2.69 trillion, up about 1.1% over 24 hours. Among the top 50 coins, 31 rose and 12 fell; the median gain was about 0.6%. The Fear & Greed Index stood at 51, in neutral territory.
The data show that inflows are concentrated in Bitcoin, while Ethereum has yet to stem the bleeding. The next set of fund flow data is more worth watching than interest-rate guidance for now.
#美联储利率 #比特币ETF $BTC $ETH
Personal opinion only; this does not constitute investment advice.
1. Interest rates: On October 28, the Fed held the federal funds rate steady at 3.75%–4.00%. The vote was 10–2, with Cook and Hammack favoring a 25-basis-point hike. The statement said inflation remains elevated and that more data are needed to determine the next steps.
2. Bitcoin ETFs: Net inflows were about $110 million on October 26 and $176 million on October 27, totaling about $286 million over the two days. October's net outflows narrowed to about $26 million. Bitcoin ETFs had seen outflows of about $635 million on October 22, and the two days of inflows are not yet enough to confirm a trend.
3. Ethereum ETFs moved in the opposite direction: Combined net outflows on Monday and Tuesday were about $149 million. October's cumulative net outflows reached about $1.32 billion, marking four consecutive weeks of outflows.
4. Prices: Bitcoin closed at about $81,254 UTC on October 28, up about 0.8%, with an intraday range of $80,330–$81,632. Ethereum closed at about $2,357, up about 0.6%. Total crypto market capitalization was about $2.69 trillion, up about 1.1% over 24 hours. Among the top 50 coins, 31 rose and 12 fell; the median gain was about 0.6%. The Fear & Greed Index stood at 51, in neutral territory.
The data show that inflows are concentrated in Bitcoin, while Ethereum has yet to stem the bleeding. The next set of fund flow data is more worth watching than interest-rate guidance for now.
#美联储利率 #比特币ETF $BTC $ETH
Personal opinion only; this does not constitute investment advice.
