Amid the current dynamics, the total crypto market capitalization declined by 0.3% on Friday. Altcoins are also showing a moderately negative trend: Ethereum is down 2.3% over the past 24 hours, while other top-10 assets are losing between 0.5% and 1%.
The pullback is largely tied to the outcome of the US Federal Reserve meeting. The regulator kept the interest rate within the 3.50–3.75% range, while raising its 2026 inflation forecast to 2.7%. At the same time, the dot plot still signals only one rate cut ahead. Immediately after the announcement, Bitcoin dropped by about 5%.
Derivatives markets increase pressure
Derivatives data indicates a clear shift in market balance toward sellers. Selling pressure on futures markets has intensified, while spot demand has weakened. The Coinbase Premium Index has turned negative, signaling reduced demand from US investors.
Large-scale liquidations added further pressure. Over the past 24 hours, crypto positions worth around $450 million were liquidated, with approximately $380 million coming from long positions. Bitcoin alone accounted for about $150 million in long liquidations.
Equity markets also reacted with losses: the S&P 500 and Nasdaq 100 each fell by around 1.4% intraday before partially recovering.
What’s next for Bitcoin
At this stage, rising oil prices are shaping the direction of global financial markets. Declines in US equity indices are adding further pressure on Bitcoin, creating an unfavorable backdrop for continued upside.
