Bitcoin Slips Toward Key EMA as Markets Eye FOMC Minutes
Bitcoin's price has slipped toward its key 50-day Exponential Moving Average (EMA) at $64,370 on Wednesday, after a near 3% gain over the previous two days.
The US-listed spot ETF recorded an inflow of over $189 million on Tuesday, marking its second consecutive day of gains.
Market participants are focused on the upcoming release of the Federal Open Market Committee (FOMC) Minutes, which could provide fresh clues on the Federal Reserve's interest-rate outlook amid renewed inflation concerns linked to rising energy prices.
Institutional demand has returned, with spot ETFs accumulating inflows so far this week. If this trend continues and intensifies through the week, it could support a rally in Bitcoin's price.