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Bitcoin (BTC) News Today: ETF Investments Buck Market Trends Despite Federal Reserve Speculation

Bitcoin ETF Market Flows and Technical Analysis

The cryptocurrency market saw significant movement on Friday as Grayscale Bitcoin Trust (GBTC) and Bitwise Bitcoin ETF (BITB) experienced net outflows, while iShares Bitcoin Trust (IBIT) and ARK 21Shares Bitcoin ETF (ARKB) reported net inflows. The impact of the US Jobs Report on market risk sentiment was evident in these figures, with seven issuers, including Fidelity Wise Origin Bitcoin Fund (FBTC), seeing zero net flows.

Despite the outflows in some areas, the extended inflow streak in others may support Bitcoin (BTC) at current price levels. Nate Geraci, President of ETF Store, highlighted the recent trends in BTC-spot ETF market flows, emphasizing the significant inflows seen in the sector.

The importance of US BTC-spot ETF inflows was underscored by losses across the broader crypto market, with Ethereum (ETH) experiencing a decline as investors awaited updates on US ETH-spot ETF-related developments.

In terms of technical analysis, BTC remained above key moving averages, signaling bullish price movements. A potential return to $70,000 could pave the way for a breakout to higher levels, while a break below $69,000 could invite bearish pressure.

Investor sentiment toward the Federal Reserve’s rate path and US BTC-spot ETF market flow data will be crucial in determining BTC’s future price movements. With a 14-Daily RSI reading of 56.34, BTC could potentially revisit its all-time high before entering overbought territory. The upcoming US CPI Report and FOMC interest rate decision will also be key factors to watch in the coming week.

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