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The oil in the American Spot Bitcoin ETF remains a weak on the second day in a row, because yesterday the decision of the Federal Committee on the Open Market is to retain unchanged interest rates unchanged at the disposal of investors’ feelings.
According to data Since Sosovalue, 12 Spot Bitcoin ETF recorded $ 92.09 million on January 29, continuing the trend of poor inflow on the second day in a row. Most of the inflows seen a day come from a mini Bitcoin Trust -a Grayscale who attracted $ 106.23 million, followed by FBTC Fidelity with inflows of $ 18.2 million.
Meanwhile, Blackkck’s Ibit, who was close to holding a net property of $ 60 billion, experienced $ 92.09 million out of outflows, ending his 9-day appeal. Bitbine Bitb also reported on a net out of a $ 3.96 million per day. The remaining eight BTC ETF saw “0” flow.
The total volume of investment products was $ 3 billion on January 29. Their total net assets amounted to $ 121.36 billion, which made up 5.88% of the total Bitcoin offer.
The Bitcoin ETF approaches remained slow after the decision of the Federal Committee on the Open Market on Wednesday, that interest rates are kept unchanged. The Fed held the federal funding rate at 4.25% to 4.50%, attributing the move to “somewhat elevated inflation”, in accordance with the expectations of analysts.
Despite the attitude of Dovish from FED, Bitcoin (BTC) increased 3.1% during the last day, exchanging his hands at $ 105,366 at the time of the press.
“While the (yesterday) FED decision has not shaken the market, the bigger picture remains clear – investors are waiting for confirmation that the decrease in the horizon rate is,” said Matt Mena, a strategist of research at 21shares, said Crypto.news.
Market participants are now transferring their focus to the upcoming Personal Consumption Exhibitions (PCE), which will be discovered this Friday, which is expected to be the following significant catalyst for risk property, including Bitcoin.
While such signals do not appear, Bitcoin is expected to consolidate in its current range, and $ 105,000 served as a critical piercing level and $ 108,000 as the next major ahead if the data on Friday benefits the risk property, Menna added.
