Bitcoin Holds Steady as Federal Reserve Rate Hike Expectations Dim

Bitcoin's market value remained steady near $84,500 this week as market participants speculated that the Federal Reserve might pause further interest rate increases.

A total of $2.4 billion flowed into U.S. spot Bitcoin exchange-traded funds during the previous trading week, with MicroStrategy continuing its aggressive accumulation strategy by purchasing an additional 1,665 BTC, bringing its total position to 847,666 BTC.

Citigroup revised its 12-month Bitcoin price target from $82,000 to $113,000, citing increased blockchain activity and revitalized ETF demand, while its Ethereum price forecast was upgraded from $2,240 to $3,028.