Bitcoin's Rally Falters as Spot ETF Flows Turn Negative Ahead of Fed Decision

Bitcoin's recent rally has hit a snag as spot Bitcoin ETF flows turned negative for the first time in three weeks, putting the $76,000 support level in focus ahead of the Fed decision.

The spot Bitcoin ETFs recorded $463 million in weekly outflows, removing a key source of demand that helped propel BTC from roughly $63,000 to $82,000 over the previous three weeks.

This reversal adds another risk for Bitcoin, according to Wintermute Research, which said it prompts them to shift their crypto outlook to 'neutral' from 'constructive'. The research firm noted that without institutional ETF demand, BTC lost $3,500.

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