Bitcoin (BTC) remains steady above the $82,000 mark as markets await the outcome of the Federal Open Market Committee (FOMC) meeting.

Despite historical trends of volatility prior to FOMC announcements, Bitcoin has demonstrated resilience, with several indicators hinting at potential price movements.

Bitcoin (BTC) price remained above the $82,000 key level as markets awaited the outcome of the Federal Open Market Committee (FOMC) meeting.

Despite historical trends of volatility prior to FOMC announcements, Bitcoin has demonstrated resilience, with several indicators hinting at potential price movements.

The cryptocurrency market opened the day cautiously, as fear dominated overall sentiment.

The total market capitalization edged up slightly by 0.15%, reaching $2.72 trillion, while 24-hour trading volumes dipped 1.59% to $71.59 billion.

Reflecting the market’s defensive stance, the Fear & Greed Index slipped to 23 amid mixed price action.

Ethereum led altcoins in recovery with a 1.64% gain over the past 24 hours, followed by modest increases in XRP (0.28%) and Solana (1.31%). Broader market stability bolstered these gains.

Meanwhile, EOS took center stage on the leaderboards with an impressive 25.72% surge, and RAY and MKR followed with gains of 12.96% and 8.62%, respectively. Conversely, FORM topped the losers’ list with a 13.26% decline, followed by CAKE (-7.49%) and CRO (-5.33%).

Significant shift

Spot Bitcoin ETFs witnessed a significant shift, ending a month-long trend of outflows on March 17 by recording $275 million in net inflows. According to Glassnode, this marks the largest weekly inflow since December 2023.

suggest that institutional investors are expecting a more dovish Fed stance on future rate cuts, strategic hedging against market uncertainties, or preparations for a short squeeze.

“This change in investor mood could indicate multiple opportunities,” the report noted, as the FOMC announcement—scheduled for Wednesday, March 19, at 2:30 pm ET—is expected to create notable market swings.

This purchase increases its total holdings to 3,200 BTC, valued at roughly $261.8 million, cementing its position as the largest Bitcoin corporate holder in Asia and the 11th largest globally.

What you should know

Adopting a strategy similar to Michael Saylor’s (previously MicroStrategy), Metaplanet financed its Bitcoin acquisitions by issuing over 44 million common shares.

Since March 2023, the company had been investing in BTC, beginning with a purchase of 1,000 coins in March and continuing with consistent additions to its portfolio throughout the year.

This latest round brings its total BTC investment to 7,588 coins, valued at around $614.4 million at the current price of about $81,000.

However, despite this massive spending spree, Metaplanet’s stock price has dropped significantly this year, trading at $0.97 at the time of writing, down around 75% since the start of 2023.

This downturn might be linked to the company’s spending on Bitcoin, which could be putting pressure on its stock value.

Nonetheless, Metaplanet remains committed to accumulating more Bitcoin despite the challenges it faces.

Pointing out a stark contrast, usually, during periods of price declines, institutions tend to sell, while retail investors continue holding.

But this time, it seems like institutions are buying more of the top cryptocurrency as they clocked in a fourth consecutive week of net inflows into spot Bitcoin ETFs.

But retail investors appear to be selling, leading to seven straight weeks of outflows from short-term crypto products.

This observation was highlighted in a recent report by digital asset management firm Coinshares.

According to the report, institutional investors poured a massive $275 million into spot Bitcoin ETFs last week alone.

suggest that institutional investors are expecting a more dovish Fed stance on future rate cuts, strategic hedging against market uncertainties, or preparations for a short squeeze.

“This change in investor mood could indicate multiple opportunities,” the report noted, adding that the FOMC announcement—scheduled for Wednesday, March 19, at 2:30 pm ET—is expected to create notable market swings.

Moreover, Coinshares pointed out that the total inflows into spot Bitcoin ETFs reached $1.04 billion in March.

This compares to outflows of $1.28 billion in February and $3.44 billion in January.

However, looking at short-term crypto products, which are typically preferred by retail investors, there were outflows of $144 million last week.

This marks the seventh consecutive week of outflows from short-term crypto products.

According to Coinshares, the outflows from short-term crypto products began in mid-February.

suggest that retail investors might be exiting their positions due to the recent decline in crypto