Bitcoin is trading around $76,500 this Friday, down significantly from early September levels. In 48 hours, spot bitcoin ETFs recorded outflows of $746 million according to Farside Investors data, including $214.8 million for Fidelity’s FBTC alone on Tuesday. The Federal Reserve raised rates by 25 basis points to 3.75-4.00%, its first hike since 2023, closing the liquidity tap that had been supporting risk assets. The Bank of Japan simultaneously raised rates by 25 basis points to 1.25%, a 1995 high, accelerating its tightening cycle and fueling carry trade unwind fears.
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