Crypto
Ethereum Pulls In Money as Bitcoin Holds Firm Amid Rate Hike Worries
Bitcoin held firm after a brief dip to $76,700 following inflation data, while Ethereum pulled in money.
The contained reaction to the data suggests that markets have largely absorbed the prospect of a 25-basis-point rate hike, according to QCP Capital.
Ethereum ETFs recorded nearly $197 million in net inflows for the week, compared to spot Bitcoin ETFs which saw $462.7 million in net outflows.
QCP Capital noted that Ethereum's flow picture is significantly different from Bitcoin's, with resistance at $2,500 to $2,550 and support at $2,400 to $2,425.