Fed Rate Hike Fears and $465M ETF Exodus Drag Bitcoin to Weekly LowBitcoin fell as much as -3% to $63,100 on July 28, its lowest level in 11 days, as traders assigned roughly a one-in-three probability to a surprise Federal Reserve rate hike at the July 29 FOMC meeting.
This would compound a crypto sell-off already strained by more than $465M in US spot Bitcoin ETF outflows recorded on July 23 and 24, as well as yesterday’s (July 27) modest -$11M outflow.
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