The inflow into the American location Bitcoin ETFs remain weak for the second consecutive day, since the decision of the Federal Open Market Committee yesterday to keep the interest unchanged, weighs on the sentiment of investors.
According to facts From Sosovalue, the 12 Spot Bitcoin ETFs registered on January 29 $ 92.09 million in inflow, so that the weak inflow trend for the second consecutive day was continued. The majority of the incomes that was seen in the day came from Grayscale’s Mini Bitcoin Trust, which came in $ 106.23 million, followed by FBTC from Fidelity with $ 18.2 million in inflow.
In the meantime, BlackRock’s IBIT, who had almost $ 60 billion in net assets, experienced $ 92.09 million in, which ended the 9-day intake stripe. The BITB of Bitwise also reported a net flow of $ 3.96 million in the day. The remaining eight BTC ETFs saw “0” flowing.
The total trade volume for investment products was $ 3 billion on January 29, while their total net assets amounted to $ 121.36 billion, accounting for 5.88% of the total Bitcoin offer.
Bitcoin ETF entry remained slow after the decision of the Federal Open Market Committee on Wednesday to keep the interest rates unchanged. The FED kept its federal funds stable at 4.25% to 4.50%, so that the switch was attributed to “somewhat increased inflation”, in accordance with the expectations of analysts.
Despite the black attitude towards the FED, Bitcoin (BTC) rose 3.1% in the last day and exchanged hands at $ 105,366 at the time of the press.
“While [yesterday’s] FED decision did not shook the market, the larger whole remains clear -the investors are waiting for confirmation that the cutbacks are on the horizon, ”Matt Mena, crypto -research strategist on 21Shares, told Crypto.news.
Market participants are now shifting their focus to the upcoming report from Personal Consumceptures (PCE), which will be unveiled this Friday, which is expected to be the next important catalyst for risk provisions, including Bitcoin.
Until such signals arise, it is expected that Bitcoin will consolidate within its current range, where $ 105k serves as a critical breakout level and $ 108k as the next large upward target if the data of Friday the risk paths are proponents, Mena added.
