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crypto.news 2025-01-29 06:41:03

Bitcoin ETFs cling to $18.44m inflows as BTC awaits FOMC decision near $102k

Spot Bitcoin exchange-traded funds in the U.S. flipped to inflows on Jan. 28 as Bitcoin reclaimed $102k, with the market bracing for the upcoming FOMC meeting. According to data from SoSoValue, the 12 Bitcoin ETFs returned to net inflows on Tuesday, with $18.44 million entering the funds. This followed a $457.48 million outflow the previous day, as investor sentiment turned risk-off amid concerns over the rising popularity of the Chinese AI app DeepSeek, which contributed to a sharp drop in both tech stocks and the crypto market. All of the inflows recorded yesterday came from BlackRock’s IBIT, which attracted $30.14 million from investors. The spot Bitcoin fund currently has total net inflows of nearly $40 billion, while its net assets stand at $58.76 billion. Meanwhile, ARK and 21Shares’ ARKB recorded an outflow of $11.7 million, partially offsetting the day’s inflows. The remaining Bitcoin ETFs saw zero flows on the day. The total trading volume for the 12 BTC ETFs stood at $2.49 billion on Jan. 28 much lower than the $4.8 billion recorded the previous trading day. You might also like: Bank of America says Fed should stop rate cuts —How will crypto react to Trump 2.0? After briefly dipping near $100,000, Bitcoin ( BTC ) has rebounded to around $102k at the time of writing. Over the past 24 hours, the cryptocurrency has held steady above the six-figure mark as the market anticipates the upcoming Federal Open Market Committee (FOMC) meeting, set to begin in less than 13 hours. According to CME’s FedWatch tool , there is a 98.4% probability that the Federal Reserve will keep interest rates unchanged at 4.25% to 4.50%. Market commentators expect Bitcoin to experience increased bearish volatility if Fed chair Jerome Powell maintains a hawkish stance on monetary policy. Matt Mena, a crypto research strategist at 21Shares, told crypto.news that the likelihood of a rate hike is “effectively zero” given the recent instability in equity markets. However, he noted that an unexpected 25 basis point rate cut could serve as a strong catalyst for a rally across risk assets, including Bitcoin. Read more: NVIDIA stumbled, tech markets wobbled, but DeepSeek AI could be crypto’s leap ahead

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