Bitcoin Holds Steady Near $77K Amid Federal Reserve Hawkishness and Weak ETF Demand

Bitcoin held steady near $77,000 on Friday despite a hawkish Federal Reserve and weak ETF demand. The cryptocurrency's resilience was notable, given that spot Bitcoin and Ethereum ETFs saw combined outflows of nearly $592 million earlier in the week.

Riya Sehgal, Research Analyst at Delta Exchange, observed that the market appears to be consolidating rather than reversing decisively. Buyers are defending support levels, but stronger follow-through is needed for a broader trend improvement.

The global crypto market capitalization rose 2.16% to $2.67 trillion on Friday, while market sentiment remained in the 'greed' zone, with the Fear & Greed Index at 65, according to CoinDCX Research.