While Bitcoin worried its investors with its decline below $61,000, it rose again above $67,000 after the FED meeting.
While analysts were divided into two regarding BTC's movements, a positive report came from QCP Capital analysts.
Analysts noted that reduced inflows into spot Bitcoin ETFs and yesterday's largest single-day outflows ever recorded could have a negative impact on the price. However, analysts also stated that these outflows may be a position adjustment before the FOMC and said that their upward expectations have not changed.
” BTC spot ETF inflows peaked at $1,045 million on March 12. However, since then, net inflows have decreased and spot prices have also declined.
Yesterday we saw a net outflow of $326.2 million, the largest single-day outflow to date. BTC reacted suddenly to these outflows, falling to the lowest level of 60,770.
Despite the negative picture of the last few days, analysts said that their opinion is that the bull market is not over and new peaks will come after the halving.
“Our view is that the bull market is not over yet. We are in the midst of a broad liquidity rotation that will push Bitcoin to new post-halving highs. However, given the amount of leverage remaining, the short-term correction could be severe,” analysts wrote on this matter. said.
*This is not investment advice.