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ETF Inflows Surge as Bitcoin Faces Fed's Rate Projections , 10xResearch take

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Bitcoin ETFs experienced renewed inflows on Wednesday after lower-than-expected U.S. inflation figures.

Federal Reserve Update

The Fed held the interest rate steady at 5.25%-5.5%, reducing its forecast for rate cuts this year from three to one.

Bitcoin dropped to $67,400 after the Fed’s announcement, despite rising to $70,000 following the CPI report.

10x Research's Take

10x Research remains bullish on Bitcoin.

Founder Markus Thielen advises sticking with Bitcoin, expecting the rally to resume.

Thielen notes that lower CPI numbers typically boost Bitcoin prices.

Inflation and ETF Trends

May’s inflation was flat, missing the 0.1% increase estimate and down from April’s 0.3%.Year-on-year inflation held at 3.3%, down from April’s 3.4%.

ETF Inflows

ETFs saw $100 million in inflows on Wednesday, ending a two-day outflow streak.

ETF inflows had paused after their January debut due to high December CPI figures but resumed in February, lifting Bitcoin prices.

Thielen expects the Fed to signal more rate cuts later this year as inflation has peaked.