Bitcoin spot ETFs had a week of ups and downs due to investors reacting to changing macroeconomic signals. After the US Federal Reserve decided to keep interest rates unchanged, a wave of optimism swept through the markets, boosting institutional interest in BTC-backed funds.

At the beginning of the week, there was a strong start with $425.45 million inflows in BTC spot ETFs on Monday. However, on Tuesday, before the Federal Open Market Committee meeting, institutional investors withdrew $85.64 million from the market, causing net outflows.

The situation improved on Wednesday when the Federal Reserve's interest rate decision reassured investors, leading to a rebound in confidence and $142.31 million inflows into BTC ETFs.

On May 7, ARKB by Ark Invest and 21Shares received a significant inflow of $57.73 million, while FBTC by Fidelity saw $39.92 million entering the fund. No fund experienced net outflows on Wednesday.

The positive sentiment extended beyond ETF inflows, with BTC price rising 2% to $98,888. A positive funding rate indicated an increase in long positions, showing bullish sentiment in the market.

Despite the positive indicators, BTC futures open interest slightly decreased by 0.18% in the past day, suggesting profit-taking by traders as BTC's price surged. The options market also reflected optimism, with a rise in call option demand, indicating traders' anticipation of BTC rising further in favorable macroeconomic conditions.