#Bitcoin decline accompanied by large net outflows from ETFs, tonight's interest rate meeting + ETF data will be an important turning point this week!
Continuing from the previous text, the failure of the "Clarity Act" on Tuesday also caused a significant drop in #BTC price, and the ETF data on Tuesday indeed performed poorly.
Data confirms the price drop; combined with Monday's ETF data, the recent fund movements are closely related to the Clarity Act. On Tuesday, BTC ETF net outflows reached 450.4 million, with FBTC net outflows of 214.8 million and IBIT net outflows of 161.7 million, becoming the main channels of fund outflow, accounting for 83.6%.
Other ETF institutions also experienced net outflows, indicating that after the short-term setback of the Clarity Act, market sentiment has shifted to collective reduction, and the sentiment is not very good.
Comparing crypto market data to Tuesday, it is also not optimistic.
Trading volume increased significantly, obviously some selling pressure was activated during yesterday's decline. Funds had a net outflow of 900 million, including mainstream funds with USDT net outflows of 50 million and USDC net outflows of 576 million. The fund flow basically matches the ETF data.
Phase summary:
Today's data sufficiently proves that the setback of the Clarity Act has significantly reduced market confidence, leading to large net outflows from ETFs and major US-based funds, with some traders starting to reduce positions.
The focus tonight is whether there will be a rate hike. Regardless of the outcome, tomorrow's ETF data will become one of the main pieces of evidence for market confidence. #本周FOMC揭晓，加息能否落地?
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