Institutional Investors Offload $450M in Bitcoin Amid Fed Rate Hike Expectations

Bitcoin's price fell toward $76,000 as institutional investors offloaded nearly $450 million worth of BTC on Tuesday. This marks the largest daily net outflow from Bitcoin ETFs in nearly three months.

The Federal Reserve has raised interest rates by 25 basis points, and markets are pricing in a 93% chance of further rate hikes. The recent sell-off suggests that institutional investors may be preparing for tighter monetary policy.

Bitcoin's price is currently hovering above $75,700 after tanking 3.3% on Tuesday. Analysts believe that the cryptocurrency is now in a balancing act and could slide towards the $72,000-$73,000 price range if macroeconomic conditions turn unfavorable.