Bitcoin holds near $78,000 as investors await inflation, Fed decision

  • Bitcoin traded sideways near $78,000 ahead of U.S. inflation data and a Federal Reserve policy decision.
  • 83,668 traders were liquidated for $255.54 million over 24 hours, according to Coinglass data.
  • Spot Bitcoin ETFs received $174.6 million in Monday net inflows, while Ethereum ETFs gained $26.46 million.

Bitcoin traded sideways around $78,000 as investors awaited key U.S. inflation data and the Federal Reserve’s upcoming policy decision. It was quoted at $78,498, while Ethereum stood at $2,484, Solana at $103.36, XRP at $1.42, Dogecoin at $0.09004 and Shiba Inu at $0.055436. Coinglass data showed 83,668 traders were liquidated for $255.54 million over the previous 24 hours. Spot Bitcoin ETFs recorded $174.6 million in net inflows on Monday, while spot Ethereum ETFs attracted $26.46 million. Traders offered mixed views: Daan Crypto Trades said Bitcoin had rebounded after a liquidity grab but warned that elevated open interest could amplify a move toward $79,000 through a short squeeze (rapid covering of bearish bets). Benjamin Cowen said pullbacks around golden crosses are normal, with a higher high above the 50-week SMA (50-week simple moving average) potentially confirming the bear market has ended, while rejection and a lower high could point to another Q4 low. Trader exitpump expected choppy, gradually weaker trading until Bitcoin reclaims $84,000, comparing the setup with 2023, and said they were targeting a long position in the low-$77,000s while avoiding entries above $78,000. Other developments included Robinhood’s prediction-markets expansion with Crypto.com, Bitmine’s purchase of 28,086 ETH for $69.5 million, discussion of the CLARITY Act ahead of a key vote next week, and commentary on Bitcoin, privacy coins, Tesla’s 2021 investment and Strategy’s recent purchase.

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