Bitcoin attempts ‘fragile lift’ as Fed signals patience on rate cuts

Bitcoin edged up slightly to around $93,000 on Thursday, attempting stabilization after recent ETF redemptions and retail selling, while the U.S. Federal Reserve minutes reinforced policymakers' cautious stance on rate cuts, demanding more evidence before easing policy. On-chain analysis suggests a tense situation, with Bitcoin falling below the 0.75 cost-basis quantile, indicating a potential trend shift, though large whale wallets are accumulating. Analyst Timothy Misir noted that the current gains look like stabilization post-capitulation rather than a new impulse, requiring Bitcoin to reclaim key on-chain levels for bullish momentum to return. In ETF news, U.S. spot Bitcoin ETFs saw $75 million in net inflows after four days of outflows, but Ether ETFs continued to decline. Despite a temporary lift from strong Nvidia earnings, broader market sentiment remains uncertain, with the Fear & Greed Index near extreme fear.

(Source：The Block)