Bitcoin Faces Range-Bound Trading Amid Market Slide and Fed Policy Uncertainty
Main Idea
Crypto markets declined 5.4% as Bitcoin, Ethereum, and XRP prices dropped ahead of the Federal Reserve's policy announcement, while ETF inflows remained strong despite market uncertainty.
Key Points
1. Bitcoin, Ethereum, and XRP prices fell significantly before the Federal Reserve's July meeting, with Bitcoin dropping 0.4% to $117,700.
2. Crypto markets slid 5.4% amid investor caution ahead of the Federal Open Markets Committee (FOMC) policy announcement.
3. Bitcoin and Ethereum ETF inflows stayed strong, with Bitcoin fund deposits at $80 million and Ethereum ETF inflows accelerating to $218 million.
4. Analysts expect a Federal Reserve rate hold in July, with potential rate cuts later, highlighting growing internal divisions on policy decisions.
5. Market volatility is anticipated due to policy divergence within the Fed, but sustained institutional interest is indicated by strong ETF inflows.
Description
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