Bitcoin News Update: Waning Expectations for Rate Cuts and Massive Bitcoin ETF Outflows Trigger Sharp Stock Decline
- U.S. stocks fell sharply on Thursday, with the Nasdaq Composite dropping over 2% amid fading Fed rate-cut hopes and Bitcoin ETF redemptions. - Bitcoin prices dipped to $86,100 as BlackRock's IBIT ETF recorded a $523M outflow, marking its worst redemption since January 2024. - Institutional investors added $5.7M in Bitcoin short positions, while FedWatch data cut December rate-cut odds to 46% from 93.7% a month ago. - U.S. spot Bitcoin ETFs face $3B in November outflows, with analysts noting a shift from
U.S. equities ended Thursday in the red, with the Nasdaq Composite tumbling more than 2%, capping off a turbulent week marked by diminishing hopes for Federal Reserve rate reductions and increasing withdrawals from
The downturn accelerated as major investors shifted to a more cautious approach.
Although there was a short-lived recovery on Wednesday—when U.S. Bitcoin ETFs saw $75.4 million in net inflows for the first time in five days—the overall sentiment remains negative
BlackRock’sBitcoin’s technical picture worsened last week when the asset
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