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Why is Bitcoin price down today despite spot Bitcoin ETF inflows?

By Olivia Stephanie

Bitcoin price falls below $80,000 after the Fed holds interest rates steady, despite $423.66M in three-day ETF inflows. Traders watch $79,700 support.

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Exchange-traded fund

An investment fund that holds a basket of assets, such as the shares in an index, and trades on a stock exchange like a single share.

ETFs offer low-cost, diversified investing and are a fast-growing way people save.

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Federal Reserve

The central bank of the United States, which sets US interest rates and supervises banks.

Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.

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Interest rate

The price of borrowing money, expressed as a percentage of the amount borrowed. A central bank sets a benchmark rate that other rates follow.

It decides how much people pay on loans and mortgages and how much savers earn, and it is the main tool for fighting inflation.

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