Wintermute: BTC ETF sees net outflow for the first time since June, market awaits Fed rate hike decision On September 15th, according to Wintermute OTC trader @ Jjay_dm, as of the week ending September 14th, BTC ETF had a net outflow of $463 million, the first negative value since the June low. ARK and Grayscale had a total outflow of $371 million, while BlackRock remained unchanged. As a result, BTC fell 4.4% for the week, closing at $76838, becoming the worst performing asset, while Ethereum fell 1.5% and altcoins overall rose 1.0%. On a macro level, the US August CPI recorded 0.4% month on month (core 0.3%), higher than the expected 0.2%, and the PPI annual rate reached 5.4%, prompting Goldman Sachs to change its September forecast from "hold still" to "raise interest rates". The market's probability of a 25bp rate hike on Wednesday has risen to 87%. At the same time, the situation in the Middle East continues to escalate, with Brent crude oil breaking through $105 per barrel and 10-year US Treasury yields reaching a 20-year high. Wintermute stated that after the outflow of ETF funds turned negative, they tend to take a neutral rather than bullish stance towards the market. This week's two key milestones: ① On Tuesday, the US Senate will hold a procedural vote on the CLARITY Act, which requires 60 votes to pass; ② On Wednesday, the Federal Reserve announced its decision to raise interest rates. The rate hike itself has been priced, but subsequent hawkish statements (especially signals of continued rate hikes in the first quarter of 2027) may pose downward pressure on the cryptocurrency market.