💸 BTC & ETH ETFs Attract Fresh Inflows Ahead of Key FOMC Re
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Updated at: a day ago
{"content":"💸 BTC & ETH ETFs Attract Fresh Inflows Ahead of Key FOMC Reveal
As institutions continue accumulating, Bitcoin and Ethereum spot ETFs raise $385 million and $38 million.
Crypto market sentiment remains "greed" with 90% of Bitcoin investors profiting.
Bitcoin price falls below $110,000 as investors await Fed minutes to reveal US monetary policy.
Ethereum hopes a rectangle pattern breakout will boost its price by 14%.
Before Wednesday's Fed meeting minutes, Bitcoin (BTC) fell below $110,000. The cryptocurrency market is going sideways. Institutional investors' risk-on mindset supports Ethereum's (ETH) price's potential for sustained increases over $3,000 despite its rectangular pattern.
Market overview: Fed minutes may cause volatility
Wednesday's FOMC May meeting minutes will be watched by worldwide markets, including crypto. Investors and analysts would examine the committee's monetary policy stance and look for signs of future interest rate decisions.
Fed Chairman Jerome Powell noted that US President Donald Trump's trade conflict might affect inflation after the Fed left interest rates steady earlier this month.
The FOMC minutes will certainly reflect this message, although markets may soften hawkishness due to the tariff delay.
Institutional investors prolong buildup in data spotlight
Spot Bitcoin ETFs had $385 million in net inflows on Tuesday, their ninth straight day. BlackRock's IBIT ETF had the greatest daily net inflow at $409 million, followed by Grayscale Bitcoin Mini Trust's BTC at $36 million and VanECK's HODL at $7.77 million. Other from Bitwise's BITB, which earned $1.79 million, no other product did well. Fidelity's FBTC, Grayscale's GBTC, and Ark & 21Shares' ARKB saw net outflows of $4.8 million, $27 million, and $38 million, respectively.
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