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Bitcoin at C$104K as Powell Chairs Final FOMC
Bitcoin is trading at C$104,500 on April 29 — down 1.3% over the past 24 hours — as the Federal Reserve's two-day FOMC meeting reaches its conclusion and Jerome Powell prepares to hold what is expected to be his final press conference as Fed Chair. US spot Bitcoin ETFs recorded C$360 million ($263 million) in net outflows on April 27, ending a nine-day inflow streak that had accumulated C$2.9 billion since April 13. Markets price a near-certain hold at 3.50–3.75%, but traders will parse Powell's forward guidance carefully as his term ends on May 15 and Kevin Warsh is expected to step into the chair role.
What This Means for Crypto Casino Players
The nine-day ETF inflow run had been a clear tailwind for Canadian players depositing Bitcoin at crypto casino platforms, lifting BTC roughly 10% from around C$95,900 on April 13 to a session high of C$108,900 on April 27. The pullback to C$104,500 trims part of those gains, though Bitcoin remains well above the entry levels that drove institutional accumulation. At current prices, a single percentage-point move in BTC equals approximately C$1,045 per coin — a meaningful shift for players sizing Canadian dollar deposits into Bitcoin. Canadian players assessing current platform options can consult our best Bitcoin casino guide for Canadian players.
The Fear and Greed Index has fallen to 26 — deep into extreme-fear territory — down from 33 the previous day. Bitcoin has twice failed to close above C$108,900 ($80,000) in the past week, reinforcing that level as a firm near-term ceiling. The key question for BTC heading into the afternoon is whether Powell's language provides a catalyst to break through that resistance or instead triggers a test of the C$102,500 ($74,800) support floor. A dovish tone that hints at rate cuts later in 2026 would be bullish; a hawkish emphasis on oil-driven inflation — Brent crude has remained above C$137 per barrel throughout the US-Iran conflict — would likely push Bitcoin lower. With the NHL playoffs in full swing, Canadian players using BTC for sports betting face additional bankroll uncertainty from the current choppy price environment.
Bitcoin ETFs and the C$108,900 Resistance
The C$360 million outflow on April 27 was led by Fidelity's FBTC fund, which recorded C$206 million in single-session redemptions — the largest individual-fund move of the reversal. BlackRock's IBIT, the dominant inflow vehicle during the nine-day accumulation period, also saw net selling for the first time across those sessions. A negative Coinbase premium index heading into FOMC day signals that US retail buying has softened alongside institutional repositioning — a broad-based pullback rather than a single-category exit. Cumulative net inflows across all US spot Bitcoin ETFs since their January 2024 launch remain at approximately C$80 billion, confirming that the long-term institutional thesis for Bitcoin is intact despite the short-term reversal.
Today's FOMC meeting is historically significant given the succession context. Powell's final press conference arrives as markets assign roughly 40% probability to zero rate cuts in 2026 and only 28% to a single reduction — expectations shaped by persistent energy inflation and the ongoing Middle East conflict. Even subtle shifts in Powell's language could move those probabilities and, with them, the near-term direction of Bitcoin and other risk assets.
What to Watch
The FOMC rate decision is scheduled for this afternoon, with a hold at 3.50–3.75% near certain. The meaningful content will arrive in Powell's press conference and the statement's forward guidance — his last opportunity to shape rate expectations before Warsh takes the chair on May 15. Key support for Bitcoin in Canadian dollar terms sits at C$102,500; a daily close back above C$106,900 ($78,000) would indicate that buyers are absorbing the institutional reversal before it extends further. Canadian players with active BTC casino positions can compare platform options on our best crypto casino page for Canadian players.