FOMC

Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<ul class="news-points">
 <li><strong>Bitcoin ETF outflows hit a weekly high of $161 million.</strong></li>
 <li><strong>Bitcoin price fell below $60,000 due to broader market sell-off.</strong></li>
 <li><strong>Analysts predict Bitcoin price to go down to $55,000.</strong></li>
</ul>
<p>The Bitcoin market experienced a wave of selling pressure yesterday, with Bitcoin ETF outflows reaching a weekly high of $162 million. This comes just a day before the highly anticipated FOMC meeting, where the Federal Open Market Committee will discuss potential interest rate hikes. The outflows mark the fifth consecutive day of decline for Bitcoin investment funds, reflecting growing uncertainty in the market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">According to SoSoValue, total net outflows from Bitcoin spot ETFs yesterday, April 30, were as high as $162 million. GrayscaleETF GBTC had a single-day net outflow of US$93.2277 million, and the current historical net outflow of GBTC is US$17.303 billion. The total net asset… <a href="https://t.co/jSCtfVrW8l" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/jSCtfVrW8l</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1785521279447257516?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Grayscale Bitcoin Trust (GBTC), a leading Bitcoin ETF, witnessed a significant single-day outflow of $93.23 million, contributing to its total historical net outflow of $17.3 billion according to Farside Investors data. The total n…</p>
<p>The post <a href="https://coinedition.com/bitcoin-market-sees-sell-off-before-fomc-meeting/" rel="noopener noreferrer nofollow">Bitcoin Market Sees Sell-Off Before FOMC Meeting</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Bitcoin Market Sees Sell-Off Before FOMC Meeting

Coin Edition

Other articles published on May 1, 2024

DeFi Emerges As Viable Distribution Channel for RWAs: Fathom Co-founder

Cryptocurrency Market Responds to US Economic Policies

El Shaddai: Where Video Games and Fine Art Converge

Three Cryptos to Buy for 10x Gains After the Bitcoin Halving – Cardano, Rebel Satoshi Arcade, and...

Crypto Analyst Unveils Altcoins in RWA, AI, GameFi and Other Sectors With 10-100x Potential This ...

Azuki NFT Sales Surge to Record Highs While Crypto Market Falls

Join our free newsletter for daily crypto updates!