- Cryptocurrency prices have been mostly stable over the past 24 hours, with bitcoin hovering around $57,000.
- Spot bitcoin ETFs’ inflows of about $295 million Monday may have steadied bitcoin prices.
- Germany has continued to sell its seized bitcoin, sending out $362.12 million to exchanges and brokers in a three-hour window on Tuesday.
- Market watchers will look for rate-cut cues during Federal Reserve Chairman Jerome Powell’s testimony before Congress Tuesday and Wednesday.
Bitcoin (BTC) is holding steady at around $57,000, bolstered by nearly $295 million in spot Bitcoin ETF inflows on Monday. BlackRock’s iShares Bitcoin Trust led with $187 million, followed by Fidelity’s Wise Origin Bitcoin Fund with $62 million. Despite large investor sell-offs, ETF demand is supporting BTC prices.
Germany continues to sell seized bitcoin, offloading $362.12 million worth on Tuesday, yet still retains around $1.31 billion in BTC. Market analysts are closely watching Federal Reserve Chairman Jerome Powell’s testimony for potential interest rate cuts, which could impact cryptocurrency attractiveness.
