Bitcoin (BTC) Market Weekly Report: Investors Shrug Off Sticky US Inflation Outlook, BTC-Spot ETF Market Extends Net Inflow Streak to Four Sessions

BTC ended the Friday, June 28, session down 2.07%. However, the US BTC-spot ETF market extended its net inflow streak to four sessions on Friday

Investors largely ignored the US Personal Income and Outlays Report, which pointed to a sticky inflation outlook. A surprising increase in personal income may boost consumer spending and stoke demand-driven inflation. To help bring inflation down to the 2% target, the Fed may keep rates higher for longer.

BTC ended Friday, June 28, down 2.07%.

On the other hand, the US BTC-spot ETF market extended its streak of net inflows to four sessions on Friday, adding a total of $73.0 million. While the outflows for the third week now total $37.3 million, the selling pressure has eased significantly. The US BTC-spot ETF market saw a total net outflow of $544.1 million in the week ending June 21.

Importantly, hopes of a September Fed rate hike remained high despite the personal income numbers. According to the CME FedWatch Tool, the probability of the Fed leaving interest rates unchanged rose slightly on Friday, from 35.9% to 37.4%.

In contrast, the US Personal Income and Outlays Report showed that inflation remained sticky in May, impacting investors' bets on a September Fed rate cut. The CME FedWatch Tool reflected the impact of the data, as the chances of a September Fed rate cut decreased from 50.2% to 46.2%.

As US economic indicators continue to influence BTC price movements, the US Presidential Debate also likely contributed to BTC's gains over the weekend.

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