Bitcoin Plunges to $76,000 Amid Negative Spot ETF Flows

Bitcoin's price dropped to $76,000 after spot ETFs recorded $463 million in weekly outflows. This marks the first negative flow in three weeks and puts pressure on key support levels ahead of the Fed decision.

The loss of institutional demand from these outflows adds another risk factor for Bitcoin, according to Wintermute Research. The research firm shifted its crypto outlook to 'neutral' from 'constructive' early this week due to these flows.

Meanwhile, Ethereum and other altcoins held up better, with spot ETH ETFs attracting $197 million in weekly inflows.