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Bitcoin's Rally Falters Amid ETF Outflows and Fed Expectations

Guavy AI Editorial Team
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BTC
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Bitcoin's rally lost steam after U.S. spot Bitcoin ETFs saw $225 million in net outflows on July 23, largely due to BlackRock's IBIT redemptions.

This coincided with a pullback in the cryptocurrency, which slipped to $64,466 on July 26.

However, earlier in the week, U.S. spot Bitcoin ETFs recorded over $900 million in net inflows, led by BlackRock's IBIT and Fidelity's FBTC, reversing June's heavy outflows.

The Federal Reserve is expected to keep interest rates unchanged at its July 28-29 meeting, with a roughly 34% chance of a rate hike priced in.

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