The Bitcoin (BTC) price fell yesterday after the new interest rate decision of the Federal Reserve (read: American central bank). It is good news that interest rates are being reduced by 0.25%, but the bank is starting to worry about inflation again. That caused Bitcoin to crash, but the ETFs still managed to raise hundreds of millions of dollars in capital.
ETF’s kopen 2.750 Bitcoins
Last night at 8:00 PM Dutch time it was announced that interest rates in the United States will be reduced by 0.25%, exactly as expected. But Fed boss Jerome Powell’s stern press conference has pushed financial markets lower. Inflation is still a problem and policymakers expect only two cuts of 0.25% next year.
That’s not what investors expected. The forecast was for four interest rate cuts of 0.25%. Bad news, and that has caused the Bitcoin price to crash hard. Bitcoin even briefly dipped below $100,000, while the price stood at a record $108,000 on Tuesday.
Nevertheless, US Bitcoin spot exchange-traded funds (ETFs) posted their fifteenth consecutive day of inflows yesterday. Data from Farside Investors shows that the series funds have raised $275.3 million in capital.
Just like the day before, BlackRock was the savior. His IBIT fund was the only one with inflows, amounting to a whopping $359.6 million. A total of four ETFs saw outflows amounting to tens of millions of dollars.
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The ETH funds also survive the crash
The American Ethereum (ETH) ETFs have also managed to keep their great streak alive. Despite the fear on the market, the funds managed to end the day in the green. Although there was only a small difference, with a combined inflow of only $2.5 million.
This was the worst trading day for the range of funds since November 21, but it was the eighteenth positive day in a row.
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Source: https://newsbit.nl/bitcoin-koers-klapt-omlaag-maar-etfs-houden-momentum-vast/
