Bitcoin's Recovery Limited by Fed Rate Hike and Middle East Tensions
Bitcoin (BTC) extended its cautious recovery to around $76,500 on Thursday after a modest rebound in the previous session.
Continued outflows from spot Bitcoin exchange-traded funds (ETFs) reflect the cautious positioning of institutional investors so far this week.
Data from SoSoValue showed that spot Bitcoin ETFs recorded net outflows of $295.98 million on Wednesday, following $450.33 million in outflows on Tuesday.
The US Federal Reserve's hawkish outlook and escalating tensions in the Middle East weigh on investors' risk appetite.