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# They're calling it a relief rally. But Coin360 says the market read the Fed hike as a "one-off." It might be a head-fake.
- URL: https://etf-alert.ghost.io/theyre-calling-it-a-relief-rally-but-coin360-says-the-market-read-the-fed-hike-as-a-one-off-it-might-be-a-head-fake/
- Published: 2026-09-18T14:02:11.000Z
- Updated: 2026-09-18T14:02:11.000Z
- Author: Andrew Martin

| ![Logo](https://storage.ghost.io/c/24/9d/249db85d-ffc7-4113-b57b-0505d666fa1d/content/images/2026/07/logo-1.png) Bitcoin ETFs hemorrhaged as much as $746 million as the Fed hiked its benchmark to 3.75%-4% — its first raise since July 2023 — while the Senate torched crypto’s top legislative priority in a 49-50 CLARITY Act vote, short of the 60 needed. Spot Bitcoin ETFs alone bled $450.4M Tuesday (the largest single-day outflow since June 24) and $295.9M the next day, with BlackRock’s iShares Bitcoin Trust giving up $161.7M over the two days combined and Fidelity’s FBTC $214.8M; post-vote outflows totaled $520M across spot BTC ($295.98M) and ETH ($224.11M) funds. Key Points •Spot Bitcoin ETFs bled $450.4M Tuesday (largest single-day outflow since June 24) and $295.9M the next day — BlackRock’s IBIT lost $161.7M and Fidelity’s FBTC $214.8M over the two days •The Fed hiked its benchmark rate to 3.75%–4%, its first raise since July 2023, the same day the CLARITY Act failed a 49-50 Senate cloture vote, short of the 60 needed •Combined post-vote outflows hit $520M across spot BTC ($295.98M) and ETH ($224.11M) funds •Bitcoin still traded at $77,287 two days later, up 1.39%, holding monthly gains of 21.2% (BTC) and 28.9% (ETH) despite the outflows •Coin360 read the Fed hike as a “one-off,” fueling a second-day altcoin bounce — Zcash up 10.35% to $1,499, HYPE up 9.06% Yet two days later Bitcoin traded at $77,287, up 1.39%. The tell isn’t in the price — it’s in who’s now writing the rules. Sponsored\* Millions of retail investors are about to make the same mistake.They’ll watch Bitcoin dominate every financial headline. They’ll feel the pull. And they’ll pile in… right as early investors begin rotating into smaller opportunities with far more upside potential.The play we’re recommending is not to chase the obvious trade… [but position in what could come next.](https://email.etf-alert.com/66a78231d973340001d605e0?user=%%{uuid}%%&domain=915ETFG&type=BLOG&product=CONO2344&ref=etf-alert.ghost.io)This is exactly what happened during previous crypto runs.When Bitcoin captured mainstream attention in 2020, smart money quietly rotated into smaller infrastructure projects trading under $1 before retail investors even noticed them.Some of those projects went on to massively outperform the majors while most investors stayed focused on the headlines.[So here’s the surprising play…](https://email.etf-alert.com/66a78231d973340001d605e0?user=%%{uuid}%%&domain=915ETFG&type=BLOG&product=CONO2344&ref=etf-alert.ghost.io)There is one specific under-$1 crypto our analysts believe is structurally positioned to benefit from a major institutional trend now accelerating behind the scenes.Most investors still haven’t found it yet.[Click here to see the under-$1 crypto our analysts are watching before this changes.](https://email.etf-alert.com/66a78231d973340001d605e0?user=%%{uuid}%%&domain=915ETFG&type=BLOG&product=CONO2344&ref=etf-alert.ghost.io)Regards,Bryce PaulCrypto 101 The Divergence Between ETF Flows and Price![The Divergence Between ETF Flows and Price](https://b2ymoao3sf9zlswzgc.b-cdn.net/cfb766fc-6ae1-4af2-9297-7c45b9551c1e.png)The CLARITY Act, a piece of legislation aimed at providing clarity and structure to the cryptocurrency market, failed to gain the necessary support in the Senate.This failure has left a regulatory vacuum in its wake, as the SEC and CFTC are now left to fill the gap. The impact of this legislative failure is evident in the outflows from Bitcoin ETFs, which have shed a significant amount of capital. While the price of Bitcoin has rebounded, the outflows indicate a lack of confidence in the market.The absence of a statutory framework has bred uncertainty and volatility. The combined outflows of $520M from spot Bitcoin and Ethereum ETFs show how investors read the vote — a repositioning driven by lost confidence, not capitulation, since BTC still holds monthly gains of 21.2% and ETH 28.9%.Why the Relief Rally Is a Head-Fake![Why the Relief Rally Is a Head-Fake](https://b2ymoao3sf9zlswzgc.b-cdn.net/c8daa19a-a80c-4140-870d-03168ebce65d.png)The relief rally is a temporary response to the CLARITY vote. Coin360 notes the market read the FOMC hike as a "one-off measure," driving a second-day bounce; altcoins ripped, with Zcash climbing 10.35% to $1,499 and HYPE gaining 9.06%.That is liquidity-driven relief, not a durability. The foundation beneath the market is still missing, and a bounce built on repriced Fed expectations does nothing to answer the framework question.Regulators Are Now Writing the Rulebook Congress Won’t![Regulators Are Now Writing the Rulebook Congress Won’t](https://b2ymoao3sf9zlswzgc.b-cdn.net/c2d8222f-8e34-40be-9240-34085c468305.png)With the CLARITY Act stalled, attention could shift toward regulatory action by the SEC and CFTC to fill the vacuum.However, the changes may lack permanence, as there is no new law backing them. Coordinated SEC-CFTC enforcement can be unwound by a future administration — the rules governing every regulated crypto product just shifted from “law” to “agency guidance.” Caution remains that volatility could increase depending on whether the Clarity bill is reintroduced and Fed officials’ comments.What This Means for Your AllocationETF flows (IBIT, FBTC) are the cleanest real-time gauge of institutional conviction, and the next few sessions determine whether the \~$520M-$746M exodus continues or reverses. Watch the Clarity reintroduction and Fed-official commentary as the two volatility triggers. The durable-rules question, not the daily price, is the variable that should govern position sizing.Prices recovered, but the legal foundation under regulated crypto exposure just got more contingent. Stay focused. Stay calm. Sources[forbes.com — Bitcoin ETFs Lose $746 Million As Fed Hikes Rates To 4%](https://www.forbes.com/sites/boazsobrado/2026/09/17/fed-hike-shock-blackrock-leads-746-million-bitcoin-etf-exodus/?ref=etf-alert.ghost.io)[finance.yahoo.com — Bitcoin and ethereum prices today, Thursday, September 17, 2026: Crypto prices move up following Fed's rate increase](https://finance.yahoo.com/personal-finance/investing/article/bitcoin-and-ethereum-prices-today-thursday-september-17-2026-crypto-prices-move-up-following-feds-rate-increase-114024955.html?ref=etf-alert.ghost.io)[digitaltoday.co.kr — Bitcoin breaks $77,000, extends rally for second day after rate hike shock](https://www.digitaltoday.co.kr/en/view/105435/bitcoin-breaks-77000-second-day-rally-after-rate-hike-shock?ref=etf-alert.ghost.io)[hokanews.com — Bitcoin and Ethereum ETFs See $520 Million Outflows After CLARITY Act Vote](https://www.hokanews.com/2026/09/bitcoin-and-ethereum-etfs-see-520.html?ref=etf-alert.ghost.io) © 2026 Boardwalk Flock LLC. All Rights Reserved.2382 Camino Vida Roble, Suite I Carlsbad, CA 92011, United States The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Readers acknowledge that the authors are not engaging in the rendering of legal, financial, medical, or professional advice. The reader agrees that under no circumstances Boardwalk Flock, LLC is responsible for any losses, direct or indirect, which are incurred as a result of the use of the information contained within this, including, but not limited to, errors, omissions, or inaccuracies. Results may not be typical and may vary from person to person. Making money trading digital currencies takes time and hard work. There are inherent risks involved with investing, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. |
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