š¤Is the correction over?
After BTC tested a local low at $60,760 yesterday, its price recovered 10% and rose above key support around $65,000.
šThe catalyst for growth was the Fed meeting and Jerome Powellās speech. As expected, the rate was left at the old level of 5.50%, but Powellās comments give hope for the first rate reduction in June. The head of the Fed said that the latest inflation data, which exceeded forecasts, will not fundamentally affect the Fed's policy and they will continue to expect a decrease in these indicators, and Fed officials also expect to see at least 3 rate cuts this year and the possibility of a reduction in June is as much as 70%.
ā ļøMeanwhile, ETFs continue to record capital outflows; according to Farside, the total outflow amounted to $261 million on March 20. But this is less than the day before, which may signal a decline in sales of Grayscale ETFs.
