Bitcoin Sees Inflows After Fed Meeting, Crypto Markets Remain Steady
Crypto markets remain steady following the Federal Reserve meeting on Thursday, with Bitcoin trading higher after spot ETFs saw net inflows.
The Treasury Secretary Scott Bessent urged the Senate to pass the CLARITY Act, which could improve crypto sentiment despite it remaining in the fear zone. In the past 24 hours, Coinglass data shows that 89,252 traders were liquidated for $274.16 million.
According to SoSoValue data, spot Bitcoin ETFs saw net inflows of $32.1 million on Wednesday, while Ethereum spot ETFs experienced net outflows of $18.7 million.
Crypto analysts are optimistic about the future of Bitcoin, with some predicting a breakout above $66,500 could pave the way for a rally towards $74,000. Analyst Ali Martinez believes that a pullback to $60,000 should not be viewed as bearish, as it could complete an inverse head-and-shoulders pattern.
The market is also looking at Uniswap, VeChain and PancakeSwap as top gainers in the past 24 hours. Bitcoin is retesting local resistance with $65,000 being a key breakout level according to Daan Crypto Trades.