Bitcoin Headlines Today: Volatility Returns as Markets Digest ETF Flows and Fed Indecision
Bitcoin Headlines Today: Volatility Returns as Markets Digest ETF Flows and Fed Indecision
Bitcoin headlines today are causing a bit of a stir, with volatility returning to global markets. This is due to major economic signals, indicators of movement on the institutional investment front, and continued speculation in crypto assets. In the early hours of trading, Bitcoin has traded between $65,000 and $67,500, signalling one of those tight ranges – reflecting a confused sentiment from the International Investors.Now, let's look at what is making the news today…
Bitcoin Closes Consolidation, Bears Test Key Support Levels
Since taking off higher than $70,000 at the beginning of June, Bitcoin has struggled to find traction to continue moving higher. In Bitcoin headlines today, analysts have noted that Bitcoin has entered into a consolidation phase after hitting a resistance event and appearing to show some fatigue, around the $66,000 mark. It appears that some short term holders, are taking profits, while longer-term HODLers' plans to hold remain unchanged. The technical charts suggest Bitcoin has encountered resistance level moving through to $67,800 and has key support levels at $64,500. A move lower past key support could result in a larger correction. Macro indicators like steadily growing ETF inflows and which are going to increase could provide some support against a fall.
Spot Bitcoin ETFs Volume Surge $1 Billion in the Last 7 Days
The big news in bitcoin today is the capital flowing into Bitcoin ETFs, more specifically spot Bitcoin ETFs. Reportedly, U.S. listed spot Bitcoin ETFs had over $1 billion of net inflows in just the last week. BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's Wise Origin Bitcoin Fund (FBTC) were among the beneficiaries.Institutional adoption will be a large part of Bitcoin advancing into the mainstream. Experts say it is clear this flood of capital will bolster Bitcoin as a long-term asset but also shows confidence in crypto