Daniel Walker
Despite uncertainty over future Federal Reserve rate cuts, Wall Street investors are aggressively buying Bitcoin ETFs, fueling expectations for a historically strong fourth quarter.
Fresh data from PRIME reveals that spot Bitcoin ETFs collected around $241 million on Wednesday, with BlackRockโs iShares Bitcoin Trust leading the charge at $129 million in net inflows. This sharp rebound followed two days of outflows โ roughly $363 million on Monday and $104 million on Tuesday.
Ethereum products, however, saw a different trend. U.S. spot ETH ETFs logged $79 million in withdrawals, marking their third consecutive day of outflows as Ethereum slipped back to the $4,000 level.
Bitcoin Price Stalls Despite ETF Demand
Even with strong inflows, Bitcoin remained stuck in a narrow range, fluctuating between $111,800 and $112,100 on Thursday amid volatile trading. Investors continue to weigh the impact of last weekโs Fed rate cut and Jerome Powellโs cautious stance on future easing.
Powell described the quarter-point cut as a risk-management move designed to support a weakening labor market, while stressing that there was no broad consensus for a larger half-point reduction.
Fedโs Balancing Act Shapes Crypto Sentiment
Projections released after the decision indicate that more rate cuts are likely later this year, but Powell emphasized the Fed must balance upside inflation risks against downside employment risks. Analysts argue this approach signals patience over aggressive action, leaving markets uncertain.
โThis is a market of maybes,โ explained Timothy Misir, head of research at BRN. โMaybe the double bottom holds, maybe ETF inflows stabilize, maybe ETH reclaims its range.โ
Key Levels to Watch for BTC and ETH
According to Misir, Bitcoin has established a double bottom around $111,115 but remains capped by resistance near $113,500. A confirmed breakout above this level could pave the way toward $115,000, though on-chain indicators still warn of potential downside toward $105,000โ$90,000.
Ethereumโs hold at $4,000 is described as fragile, with risks of sliding back toward the $3,800โ$3,600 zone if selling pressure continues.
Range-Bound Market Until Breakout
The crypto market mirrors Powellโs own balancing act: cut rates too quickly, and inflation could reignite; move too slowly, and unemployment may worsen. For traders, this translates into a range-driven environment where price action โ not narratives โ dictates direction. Until Bitcoin clears resistance, crypto remains locked in consolidation.
