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Bitcoin Trapped Below $78K Resistance as Spot ETF Outflows Extend to Third Day on April 29

GateNews
ForexCommoditiesMarket AnalysisPrice VolatilityMonetary Policybitcoin newsethereum newssolana newsXRP newsStocksCapital FlowOn-Chain Data
According to The Block, on April 29, Bitcoin held near $76,100 as U.S. spot bitcoin ETFs posted a third consecutive day of net outflows totaling $138 million, with spot ether ETFs losing an additional $87.7 million. The decline reflects investor caution following the Federal Reserve's decision to hold rates unchanged while delivering the deepest internal policy split in decades. Analysts noted that Bitcoin remains trapped below the $78,000-$79,000 key resistance zone identified by Glassnode, with demand too weak for a sustained break higher. The Fed's hawkish dissenters and signals of higher-for-longer rates have kept the market in a range-bound setup despite better-defined support between $65,000 and $70,000.
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Comment
0/400
GateUser-fbaa1586vip
· 05-29 05:36
Buy the dip 😎
View OriginalReply0
GateUser-fbaa1586vip
· 05-29 05:36
Line
View OriginalReply0