Bitcoin (BTC) News Today: Fed Rate Sentiment Shifts, Influencing BTC-Spot ETF Flows

According to Farside Investors,

• GBTC saw net outflows of $139.4 million on Thursday (April 25), up from $130.4 million on Wednesday (April 24).
• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $22.6 million on Thursday (April 25), the first net outflow since launching on January 11.
• iShares Bitcoin Trust (IBIT) saw zero net flows for the second successive session on Thursday (April 25).
• ARK 21Shares Bitcoin ETF saw net outflows of $31.3 million after registering net inflows of $4.2 million on Wednesday (April 24).
• The BTC-spot ETF market saw total net outflows of $217.6 million on Thursday (April 25), up from total net outflows of $120.6 million on Wednesday (April 24).

BTC-spot ETF market conditions did not improve on Friday (April 26). According to preliminary Friday (April 26) numbers from Farside Investors,

• GBTC saw net outflows of $82.4 million on Friday.
• FBTC registered net outflows of $2.8 million.
• Bitwise Bitcoin ETF (BITB) saw net outflows of $3.8 million.
• ARKB recorded net inflows of $5.4 million.
• IBIT saw zero net flows for the third successive session.

The BTC-spot ETF market saw total net outflows of $83.6 million, impacting buyer demand for BTC on Saturday (April 27). Perhaps the only consolation was IBIT avoiding net outflows.

Technical Analysis

Bitcoin Analysis

BTC remained below the 50-day EMA while holding above the 200-day EMA. The EMAs confirmed the bearish near-term but bullish longer-term price trends.

A BTC break above the $64,000 would support a move to the 50-day EMA. A breakout from the 50-day EMA would give the bulls a run at the $69,000 resistance level.

On Saturday, the US BTC-spot ETF flow data needs consideration.

Conversely, a BTC drop below the $62,500 handle could signal a BTC fall to the $60,365 support level.

With a 14-Daily RSI reading of 42.58, BTC could fall through the $60,365 support level before entering oversold territory.