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📊 Fed stays hawkish. BTC ETFs turn positive. The Fed kept rates unchanged at 3.50–3.75%. But the vote revealed a tougher stance: three officials pushed for a rate hike — the first time since 2016 that three members supported tighter policy. At the same time, spot Bitcoin ETFs recorded $32.1M in inflows, ending a 4-day streak of outflows. Two opposite signals: ▪️ Inflation concerns remain ▪️ Institutional BTC demand returns The market is still cautious, but the balance between policy and liquidity is shifting.

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