Bitcoin Extends Weekly Losses Amid Fed Rate Jitters; ETFs See 7 Straight Weeks Of Outflows

Bitcoin slipped 2.2% to $62,603.10 on Wednesday,dragged down by prolonged high US rate expectations and broad risk aversion. Sharp declines across tech and chip stocks drove investors away from all risk assets, with crypto failing to draw safe-haven rotation flows.

Markets await May PCE inflation data this week, which will shape the Fed’s tightening path after last week’s hawkish FOMC signals.

Bitcoin has traded sideways near yearly lows for a full week. Spot crypto ETFs logged their seventh straight week of net redemptions. While outflows have slowed, there is no sign of institutional inflows returning; capital has instead shifted toward AI equities with clearer fundamental narratives.

source：coinglass

CLARITY Act Is Coinbase’s Key Regulatory Catalyst, Says BofA

Bank of America kept a Buy rating on Coinbase (NASDAQ: COIN), which dropped 4.04%. The broker sees the proposed CLARITY Act as a major growth driver, cementing Coinbase as the top institutional crypto gateway in the US.

Coinbase’s newly approved US perpetual futures business is another upside trigger — global perpetual trading volume is 3–4 times larger than spot crypto markets. A supportive regulatory environment under the Trump administration would further lift exchange revenue and volumes if the bill passes.

However, CLARITY Act progress has stalled recently, as crypto and banking lobbyists clash over stablecoin rules and yield payment terms in Congress.