Bitcoin

Bitcoin (BTC) begins the week in a critical position, hovering above <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">$55,000</a> as traders brace for a wave of macroeconomic data releases that could impact its price. The upcoming U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) reports are expected to significantly shape market sentiment. Additionally, the much-anticipated Federal Reserve interest rate decision would also play a crucial role in influencing market movements.Institutional Outflows RiseBitcoin managed to close the previous week, holding its $54,000 support level, offering some relief to investors after a recent stretch of volatile price movements. Despite this, BTC has seen significant outflows, with crypto funds shedding over <a href="https://x.com/KobeissiLetter/status/1832486721512206493" rel="noopener noreferrer nofollow">$600 million</a> last week. This marks one of the largest outflows in the crypto sector since the bear market of 2022, signaling a potential shift in investor confidence.ETF Outflows Raise ConcernsInstitutional interest in Bitcoin ETFs also continues to wane, with net outflows recorded every day last week, further indicating a cautious approach from large investors. Data from UK-based Farside Investors <a href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow">revealed</a> that two of the four trading days saw over $200 million in outflows from Bitcoin ETFs. This trend is raising concerns about the <a href="https://cryptotale.org/bitcoin-fear-index-at-22-can-btc-drop-below-50k/" rel="noopener noreferrer nofollow">current risk</a> appetite in the market, particularly as Bitcoin remains down 15% over the last two weeks.<a href="https://cryptotale.org/will-bitcoin-rebound-20-this-week-amid-key-economic-data/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Will Bitcoin Rebound 20% This Week Amid Key Economic Data?

CryptoTale

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