🔥 Bitcoin is sitting out the stock market rebound as ETFs see outflows for the fourth straight day
$BTC is trading sideways around $74,000, while the stock market is recovering. Inflation figures released on Tuesday came in hotter than expected, pushing the odds of a U.S. rate hike to around 90%.
ETF flows also look lackluster, with funds continuing to see outflows for a fourth straight day. At the same time, liquidations in the market have surged, indicating that many leveraged positions have been wiped out.
For traders, the picture is fairly clear: expectations of higher interest rates are weighing on sentiment, while institutional capital has yet to return through ETFs to support prices. It’s also worth watching whether BTC can hold the $74,000 level in this environment. (This is not investment advice.)
Do you think BTC will hold the $74,000 level, or will rising interest rates add further selling pressure?
#hoangducinvest #Bitcoin #ETF
Source: CoinDesk
$BTC is trading sideways around $74,000, while the stock market is recovering. Inflation figures released on Tuesday came in hotter than expected, pushing the odds of a U.S. rate hike to around 90%.
ETF flows also look lackluster, with funds continuing to see outflows for a fourth straight day. At the same time, liquidations in the market have surged, indicating that many leveraged positions have been wiped out.
For traders, the picture is fairly clear: expectations of higher interest rates are weighing on sentiment, while institutional capital has yet to return through ETFs to support prices. It’s also worth watching whether BTC can hold the $74,000 level in this environment. (This is not investment advice.)
Do you think BTC will hold the $74,000 level, or will rising interest rates add further selling pressure?
#hoangducinvest #Bitcoin #ETF
Source: CoinDesk