Bitcoin Price Stuck as Investors React to Fed Actions and ETF Activity

The Bitcoin price remains stuck at around $63,430 after reacting to recent Federal Reserve actions and activity in US ETFs. The BTC/USD pair has been trading within a narrow range over the past few weeks.

Data shows that spot ETFs shed over $265 million in assets on Friday, with most of these outflows coming from BlackRock's IBIT, which lost $122 million. This marks a reversal after spot Bitcoin ETFs had over $172 million in inflows last month.

The Federal Reserve's decision to leave interest rates unchanged and hint at potential hikes later this year has also weighed on the market. Additionally, falling odds of the CLARITY Act passing have contributed to the volatility.