Bitcoin ETF Ends Nine Consecutive Days of Net Inflows, Market Adopts Wait-and-See Approach Ahead of Federal Reserve FOMC Meeting

BlockBeats News, April 28th. Bitcoin dropped below $77,000, and the US spot Bitcoin ETF saw a net outflow of $263.2 million on April 27th, ending a nine-day streak of net inflows, just ahead of this week's Federal Reserve FOMC meeting. This added a touch of caution to the resilient April rebound. Bitcoin fell today but was still up about 15% in the past month, reaching a high of $79,000 in April. The interruption of the ETF fund flow momentum is important as it coincides with a major macro week. The market is currently digesting the Federal Reserve, renewed inflation concerns, GDP data, a series of large tech company earnings reports, and another round of interest rate decisions from European and Asian central banks.

BRN Research Director Timothy Misir stated that the crypto market entered this week on an encouraging note, but with too many crosscurrents to determine a clean risk-on sentiment. In his view, investors have shown signs of "war fatigue" regarding the Middle East situation, while central banks around the world are forced to balance supply-driven inflation with waning confidence, inconsistent data, and uneven recovery paths. Glassnode expressed a similar view in its latest Weekly Pulse report. Analysts said that Bitcoin still exhibits a "bullish sentiment, cautious mood, and consolidation" state, with strong buying pressure being offset by weaker speculative participation and lower trading activity.

QCP Capital stated that Bitcoin had a strong rebound in April, maintaining a constructive overall outlook. However, the institution believes that $82,000 remains a key level, with the nearby CME gap posing the next significant test. GSR Asset Management Managing Director Andy Baehr described the price as "gradually upward," with $80,000 still being a crucial psychological level.