ChainCatcher message, this week, the Federal Reserve finally confirmed the long-anticipated 'pivot' by the market. The central bank's statement and updates to economic forecasts this week had a significant impact on the market. Market participants currently expect the Federal Reserve to cut interest rates by about 40 basis points by December 2025, leading to a rise in U.S. Treasury yields. Earlier this week, Bitcoin fell from its historical high, and on Friday, during the European session, Bitcoin continued to decline and briefly approached $95,000. Earlier, Bitcoin had just set a new historical high of over $108,000. The current downturn in the crypto market has had a greater impact on altcoins like Ethereum and Dogecoin.
Additionally, U.S. exchange-traded funds (ETFs) that directly invest in Bitcoin also ended a consecutive 15-day inflow this week, recording an outflow of $680 million, highlighting the shift in market sentiment.
