Crypto market rebounds after Fed rate hike, but ETFs bleed funds
- —$746 million flowed out of spot bitcoin ETFs on Tuesday and Wednesday
- —Bitcoin is 40% below its $126,000 record, as it was before the 2022 cycle
- —Futures price in another 75 bps of rate hikes over six months
- —Core inflation slowed to 2.4%, but oil is above $100 and diesel is at a record
Why it matters: The market is testing whether the 2022 scenario repeats: a post-hike rebound could turn into a selloff if ETF flows stay negative.
Source: Cryptonews.net