Bitcoin News

Story: Bitcoin Trades Near $109K as ETF Outflows and Powell’s Hawkish Tone Weigh on Markets

By MikeT

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Fed’s Message Reverses Rate-Cut Bets. Before Powell’s post-meeting press conference, traders on Polymarket had priced in roughly a 90%…

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ETF Outflows Underscore Cooling Demand. According to CryptoQuant’s latest weekly report, spot Bitcoin ETFs recorded a seven-day average…

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Long-Term Holders Turn to Profit-Taking. On-chain analytics from Glassnode reveal that long-term Bitcoin holders have been selling at the…

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Solana ETFs Launch but Prices Retreat. Elsewhere, Solana (SOL) faced a steep pullback despite positive news from U.S. markets.

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Macro Headwinds Continue to Dominate. The crypto market’s reaction underscores how strongly macroeconomic narratives still influence…

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Outlook: Traders Eye Fed Path and ETF Flows. As Asia’s trading session gets underway, Bitcoin remains stable near $109,000, with traders…

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Bitcoin (BTC) hovered around $109,000 on Thursday after U.S. Federal Reserve Chair Jerome Powell delivered unexpectedly hawkish remarks that dampened investor sentiment across…

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Market data from CryptoQuant shows a notable decline in U.S. ETF demand, while Glassnode reported heavy selling from long-term holders.

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Before Powell’s post-meeting press conference, traders on Polymarket had priced in roughly a 90% chance of a 25-basis-point rate cut in December.

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The recalibration spilled into crypto markets almost immediately. As global trading desks opened, Bitcoin slipped below $110,000, and major altcoins turned lower, erasing gains…

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According to CryptoQuant’s latest weekly report, spot Bitcoin ETFs recorded a seven-day average outflow of 281 BTC, marking one of the weakest readings since April 2025.

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Further evidence of softening demand can be seen in the Coinbase premium index, which measures the difference between U.S. and offshore exchange prices.

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Meanwhile, the CME futures basis—a gauge of institutional risk appetite—has fallen to multi-year lows.

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Transfer volumes from these older wallets to exchanges have surged to nearly $293 million daily, suggesting that long-term investors are securing profits while demand softens.

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Elsewhere, Solana (SOL) faced a steep pullback despite positive news from U.S. markets. The first spot Solana ETFs launched this week, drawing inflows but failing to lift prices.

The Currency Analytics

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