Bitcoin ETFs recorded $462.7 million in net outflows. With policy decisions from the Federal Reserve, Bank of England and Bank of Japan due this week, the market is wary of the impact of macroeconomic trends.
Bitcoin fell 3.8% last week, while net outflows from Bitcoin ETFs reached $462.7 million over 4 trading days. By contrast, Ethereum ETFs recorded approximately $197.1 million in net inflows over the same period. Stablecoin market capitalization has increased to $309 billion, while Bitcoin’s market share continues to decline.
With policy decisions from the Federal Reserve, Bank of England and Bank of Japan due this week, there are expected to be instances in which a relatively hawkish stance is suggested against a backdrop of higher oil prices and inflation trends. Ahead of the schedule, including the FOMC meeting, the market is reassessing the risk levels of its assets.
BTC.D, which represents Bitcoin dominance, has fallen by approximately 2% since 4 September. In contrast, ETH has shown relative strength, particularly in Europe, while some altcoins, including Zcash and Uniswap, have also performed steadily. Funds continue to rotate within the crypto market, and further expansion in stablecoins has also been observed.
Technically, the focus is on whether BTC can hold above $76,000. A break below that level would increase the risk of a sharp decline and could make a recovery to the recent monthly high of $82,300 more difficult. Depending on developments this week, liquidity and capital allocation across risk assets could fluctuate.