Ahead of the Federal Reserve (Fed) monetary policy meeting, Bitcoin ETF funds are rapidly flowing in, heightening market interest. It has been revealed that a total of $of $.3 3 (approximately 7.28 trillion won) ET) has been injected into Bitcoin ETFs since mid-April.
Particularly, BlackockRock's iiShares Bitcoin Trust has the ETF market by raising $4.7 billion in funds since early April. However on May 6th, $85.7 million was withdrawn from the ETF market, showing short-term volatility.
According to Polymarket, there is a 98% possibility that the current interest rate of .50% will remain will at this FOMC meeting. This means a third consecutive rate freeze and is expected to be a positive signal for the Bitcoin market.
Meanwhile, on-chain data shows that large Bitcoin investors are consistently showing buying trends. Large wallets holding 10-10,000 BhaveTC over ,000 BTC additionally in the past 6 ><6 >
Bitcoin price soared to,,500 and is currently trading at $96,694,, up 2.35%. Major cryptocurrency analyst Crypto Rover predicted that Bitcoin needs to break through key resistance levels at98,000, $,000, and $106,000. His chart analyzed that Bitcoin could rise to $106,000 after adjusting to $92,000.
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