Bitcoin holds above $74,000 as Fed and global central banks line up rate decisions

Bitcoin is holding near the mid-$70,000s, rebounding from a low near $66,000, driven by steady spot buying and accelerating institutional inflows into spot Bitcoin ETFs. Sell-side pressure is easing, and on-chain metrics suggest renewed accumulation, although derivatives positioning remains cautious. The price action coincides with a short squeeze dynamic. This stability is occurring against a volatile macro backdrop featuring imminent rate decisions from the Fed, ECB, Bank of Japan, and Bank of England. Analysts note Bitcoin is showing early signs of decoupling from equities, holding support despite oil-driven inflation fears, and some suggest it is stabilizing ahead of risk assets. While the Fed is expected to hold rates steady, forward guidance is key. Structural indicators like declining exchange balances and increasing whale holdings support accumulation, though long-term institutional forecasts remain split, with some trimming targets due to legislative delays.

(Source：The Block)