Crypto Market Reacts Unevenly to Fed Rate Hike

The cryptocurrency market saw a mixed response to the Federal Reserve's interest rate hike. While prices rose, exchange-traded funds (ETFs) did not follow suit.

Bitcoin and Ethereum ETFs suffered significant losses, with $295.98 million and $224.11 million outflows respectively. In contrast, XRP and Solana ETFs saw fresh inflows of $3.50 million and $836.93 thousand.

The discrepancy between spot prices and ETF balances suggests short-term rebalancing rather than a broad exit from the assets themselves.

Large Ethereum holders, or 'whales', appear to be treating the outflow-driven dip as an opportunity to buy, further supporting this interpretation.