Bitcoin ETFs Suffer Largest Daily Outflow Since June as Bulls Remain Optimistic
Bitcoin exchange-traded funds (ETFs) saw their largest daily outflow since June 25, amounting to $450.3 million. Fidelity's FBTC led with $214.8 million in outflows, followed by BlackRock's IBIT with $161.7 million. These two firms made up around 84% of the day's total outflows.
The Senate failed to advance the Digital Asset Market Clarity Act (CLARITY Act), but Bitcoin bulls remain optimistic that it won't impact prices. Investor Anthony Pompliano said, 'Bitcoin doesn't need the Clarity Act because bitcoin already has clarity.'
Bitcoin's price was trading at $75,880, down over 1% in the last 24 hours. With the Federal Reserve's interest rate decision on Wednesday, traders are looking for a quarter-point hike, which would lift the Fed's target range to 3.75% to 4%.