Bitcoin’s advance lost momentum on Friday after the Federal Reserve chief said inflation remained too high, according to Bitcoin Magazine. The cryptocurrency had rallied as speculators directed about $3 billion into exchange-traded investment vehicles linked to the market’s most popular digital asset. The comments on inflation came as that ETF-driven buying had helped fuel Bitcoin’s recent run. With the move slowing, market attention is focused on how investors respond to the Federal Reserve’s inflation stance and whether flows into Bitcoin-related funds continue to support demand. Bitcoin Magazine reported the development in an article written by Mathew Di Salvo. The report did not provide a specific Bitcoin price or quantify the size of Friday’s pullback. Bitcoin remains the central asset affected in the report, while the broader crypto market may also be monitored for spillover from changes in ETF activity and expectations around US monetary policy.
Bitcoin Cools After ETF-Fueled $3 Billion Surge
Bitcoin’s rally slowed Friday after the Federal Reserve chief said inflation was too high. Bitcoin Magazine linked the earlier advance to roughly $3 billion in speculative flows into exchange-traded investment vehicles tied to the cryptocurrency.
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