Bitcoin fluctuates around $77,100 amid U.S. rate hike concerns, but ETF inflows of $924.5M support near-term resilience.
Macro & Markets ·
Bitcoin has fluctuated around $77,100 as expectations for tighter U.S. monetary policy have intensified, with the asset reaching a recent peak of $81,500 before pulling back. Despite rising rate hike probabilities, the asset closed only 3% lower and maintained support above previous highs, signaling near-term resilience.
Spot Bitcoin ETFs provided a tailwind with $924.5 million in net inflows last week, offsetting some of the pressure from monetary policy concerns. The derivatives market showed stability, with perpetual futures open interest holding at $55.6 billion, indicating continued participation from leveraged traders.
On-chain monitoring revealed significant shifts in Bitcoin ownership, with large movements occurring between major wallets and custodial holding accounts. Whether ETF demand will sustain as rate expectations evolve, and how custody patterns ultimately affect price direction, remain open questions.