Spot crypto ETFs flashed risk-off just hours before Jerome Powell’s remarks.
Farside Investors’ tracker shows U.S. spot Bitcoin ETFs bled $363.1 million on September 23—the biggest daily exit this month—led by Fidelity’s FBTC (-$276.7M), ARKB (-$52.3M), GBTC (-$24.6M) and HODL (-$9.5M).
Ethereum funds also flipped negative with $76M in outflows, paced by Fidelity’s FETH (-$33.1M), Bitwise’s ETHW (-$22.3M) and BlackRock’s ETHA (-$15.1M).
Markets are bracing for Powell’s economic-outlook speech after mixed signals from Fed officials on the pace of future cuts—Governor Stephen Miran has argued for a deeper reduction than most of his colleagues.
The dollar index hovered in the high-97s and the U.S. 10-year yield held near 4.15% into the event, reinforcing a cautious tone across risk assets.
Price check: Bitcoin was hovering around $113,000 after Monday’s leverage flush, while Ethereum traded close to the $4,200 support area. Short-term ranges and softer risk appetite keep traders focused on Powell’s guidance and this week’s inflation prints for the next directional cue.
Why it matters: Flows tend to lead price in the near term. A firm dollar and steady long rates into Powell’s appearance raise the bar for a risk rebound—any hint that the Fed prefers to go slower on cuts could extend the defensive stance in crypto until data or policy rhetoric breaks the stalemate.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-etfs-see-363m-outflow-ahead-of-jerome-powell-speech/