Bitcoin Defies Rate Hike Jitters as Risk-On Sentiment Returns

BTC has shown resilience in the face of rate hikes by the Federal Reserve and Bank of Japan, as market sentiment shifts towards risk-on. This trend is evident in the performance of Bitcoin, which has shrugged off the impact of these monetary policy decisions.

The spot Bitcoin ETFs have seen significant inflows, with approximately $159 million being invested over a short period. In contrast, Ethereum-based ETFs have experienced outflows, with around $39 million being withdrawn on the third consecutive day.

L2 and DeFi tokens are leading the market, with STRK increasing by 18%, ARB rising by 17%, and UNI seeing significant gains. The BTC price currently stands at $80,850.