Bitcoin Price Predictions: BTC Holds at $84,000 Despite Hawkish Federal Reserve Statements and Spot ETF Outflows:
The price of Bitcoin stabilizes around $84,000 on Thursday after facing multiple rejections around the 200-day Exponential Moving Average.
Hawkish statements from the Federal Reserve on Wednesday affect market sentiment for risk assets like Bitcoin.
U.S. Bitcoin ETFs recorded an outflow of $169.87 million on Wednesday.
Bitcoin (BTC) stabilizes around $84,000 at the time of writing this report on Thursday after facing multiple rejections around the 200-day Exponential Moving Average (EMA) at $85,000 since Saturday. Despite the risk-off sentiment due to the hawkish statements from the U.S. Federal Reserve (Fed) on Wednesday, BTC remains relatively stable. Meanwhile, institutional demand shows weakness, with nearly $170 million in spot Bitcoin ETFs recorded on Wednesday.
