However, FOMC member commentary on Thursday (May 16) tempered investor expectations of a September Fed rate cut. FOMC members Loretta Mester and Raphael Bostic suggested a higher-for-longer rate path, impacting market risk sentiment.
The Nasdaq Composite Index declined by 0.26% on Thursday (May 16).
Nevertheless, the chances of a September Fed rate cut remain positive. According to the CME FedWatch Tool, the probability of the Fed cutting interest rates in September stood at 68.4% on Thursday (May 16), down from 68.7% on Thursday (May 9).
Fed Rate Cut Bets and the US BTC-Spot ETF Market
US BTC-spot ETF flow data continued to reflect investor bets on a Fed rate cut. According to Farside Investors, the US BTC-spot ETF market saw total net inflows of $303.0 million on Wednesday (May 15).
Flow data for Thursday (May 16) were also positive, with the US BTC-spot ETF market eying four successive days of net inflows. The US BTC-spot ETF market last enjoyed four consecutive days of net inflows in the first week of April.
According to Farside Investors,
