Bitcoin Rises as ETF Inflows Return and Fed Comments Weigh In
Bitcoin gained 1.5% in Asian trading to reach $83,900 before easing to $83,450, helped by $175.62 million in net inflows to U.S. spot Bitcoin ETFs. Fidelity's FBTC led with $103.06 million, while BlackRock's IBIT and Morgan Stanley's MSBT also attracted money. New York Fed President John Williams said rate hikes may be sufficient through 2027 but called another increase this year the most likely scenario, as traders awaited U.S. inflation data.
American spot Bitcoin funds attracted $175.62 million net, reversing a $65.4 million withdrawal. Fidelity’s FBTC took in $103.06 million; BlackRock’s IBIT and Morgan Stanley’s MSBT gathered $65.89 million and $6.67 million. Month-to-date flows remain $276.2 million negative, while year-to-date inflows total $654.2 million.
Strive intends to raise $500 million by selling SATS, a perpetual preferred stock class priced at $100 each, possibly funding more Bitcoin purchases, other asset bets, or buybacks. Williams said rate increases may be enough through 2027, though another this year is viewed as most probable. Traders await inflation figures.
ETF inflows and Fed signals may shape risk appetite beyond crypto, affecting institutional and retail investors, firms holding Bitcoin, and fintech platforms. Easier financial conditions could encourage speculative allocations, while uncertainty over rates may amplify volatility. Households and businesses exposed to crypto-linked assets could see wealth swings, and payment or custody providers may face changing demand. The upcoming inflation data may influence sentiment, but outcomes remain uncertain.