Weak Sentiment In Crypto Markets
Sentiment remains muted in cryptocurrency markets amidst uncertainty surrounding the Federal Reserve’s interest rate decision as well as macro-economic data points. Extreme fear dominates market sentiment amidst outflows from BlackRock’s Bitcoin and Ethereum Spot ETF products in the U.S.
According to the CME FedWatch tool, market expectation of a quarter percentage Fed rate cut in December which was 91.7 percent a month is currently at 76.7 percent versus 71 percent on Friday and 42.4 percent a week ago.
Data showed that Bitcoin Spot ETF products in the U.S. recorded inflows of $238 million on Friday versus outflows of $903 million on Thursday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped inflows with $108 million. Market leader…
