Bitcoin ETF ends nine consecutive days of net inflows, market turns cautious ahead of the Federal Reserve FOMC meeting

Mars Finance News, Bitcoin falls below $77,000, U.S. spot Bitcoin ETF records $263.2 million in net outflows, ending nine consecutive days of net inflows, just before this week’s Federal Reserve FOMC meeting, adding a note of caution to the resilient April rebound. Bitcoin declined today, but has still risen about 15% over the past month, reaching a high of $79,000 in April. The significance of the ETF fund flow interruption lies in its timing just before a major macroeconomic week. The market is currently digesting multiple factors simultaneously, including the Federal Reserve, a new round of inflation concerns, GDP data, a series of large tech earnings reports, and another round of interest rate decisions by European and Asian central banks. Timothy Misir, head of research at BRN, said that the crypto market entered this week with an encouraging momentum, but the multitude of cross-cutting factors makes it difficult to determine if it’s a clean risk-on environment. In his view, investors are showing signs of “war fatigue” regarding the Middle East situation, while central banks are forced to balance between supply-driven inflation, waning confidence, and mixed data. Glassnode expressed a similar view in its latest weekly pulse report. Analysts say Bitcoin still shows a “mixed state of bullish momentum, cautious sentiment, and consolidation,” with strong buying pressure offset by weaker speculative participation and lower trading activity. QCP Capital stated that Bitcoin rebounded significantly in April, maintaining a constructive overall pattern. However, the firm believes that $82,000 remains a key level, with the nearby CME gap posing the next real test. GSR Asset Management Managing Director Andy Baehr said the price is “gradually rising,” with $80,000 still being a key psychological level.