Bitcoin rebounds on ETF inflows: is $66,500 next major test for BTC?
Bitcoin
Bitcoin remains neutral on Wednesday after adding 1% to its value on Tuesday. The leading cryptocurrency is trading slightly below its 50-day Exponential Moving Average (EMA) at approximately $64,376 as of Wednesday. Renewed institutional demand has supported the recovery, with US spot Bitcoin Exchange-Traded Funds (ETFs) recording consecutive daily inflows at the beginning of the week. Traders are now preparing for Wednesday's release of the Federal Open Market Committee Minutes. The report could provide additional insight into the Federal Reserve's interest-rate outlook as rising energy prices revive concerns about inflation. Spot Bitcoin ETFs record $189 million inflow Institutional demand for Bitcoin has improved this week. According to CoinGlass data, US spot Bitcoin ETFs recorded $189.
BTC
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