The U.S. Bitcoin spot ETF faced net outflows on 5/9-10, and the price of Bitcoin fell by 63K. Although there were net inflows on 5/13-14, and the total was more than the outflows in the previous two days, the price of Bitcoin seems to have shown no improvement and is still below 63K, about 61,900 as of writing.
Inflation remains higher than expected, no sign of interest rate cut
Fed Chairman Jerome Powell reiterated on Tuesday that inflation is falling slower than expected and will likely remain high for a long time, and that interest rates are expected to remain stable.
Although the FED has expressed the same position many times, each statement will cause a certain degree of blow to the investment market that expects interest rate cuts to drive capital flows.
