Bitcoin stuck under $78K as ETF inflows pause after FOMC

Bitcoin failed to hold above $78,000 in the 24 hours after Wednesday’s FOMC decision. The key driver cited is not a rate cut/hold surprise, but uncertainty on what comes next, which is keeping institutions from adding risk. Three straight sessions of Bitcoin ETF outflows totalled over $490 million. On April 29, net outflows were $137.77 million, ending a nine-day inflow streak worth $2.1 billion. Every active issuer posted negative flows for the first time in that run, led by BlackRock’s IBIT ($54.73m) and Fidelity’s FBTC ($36.13m). SoSoValue ETF data confirmed the $137.77m outflow. ZeroStack CEO Daniel Reis-Faria said the market is reacting to broader macro conditions and Fed ambiguity rather than leaving crypto. April still closed with $2.44 billion in total net ETF inflows, suggesting a “pause” rather than an “exit.” Market positioning also appears bearish-to-neutral. Glassnode data show BTC is “trapped” below its True Market Mean around $78,000–$79,000, with perpetual futures at their most negative level on record. The article flags downside support near $65,000–$70,000 and notes that a short squeeze is possible if spot demand returns. Traders are watching the next 48 hours (Apr 30–May 1): stabilising ETF flows, BTC holding above ~$74,500, and normalising funding rates could signal post-FOMC selling has exhausted. Near-term May catalysts mentioned include potential CLARITY Act progress and other political/geopolitical developments that could shift risk appetite.