Bitcoin recovery stalls after Fed holds interest rates, citing ‘uncertainty’ in Middle East
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Fed held interest rates steady, matching expectations, yet Bitcoin fell to $74,937 after the FOMC minutes, slipping below its 20‑day SMA of $75,664.
- Hyblock CEO Shubh Varma said the global bid‑ask ratio spiked to 0.3, a near‑record level, while open interest contracted, signaling stop‑hunt activity.
- Glassnode reported short‑term holders realized a surge in profit‑taking and margin futures flipped to net short, eroding bullish momentum.
- Glassnode identified a dense institutional accumulation zone between $65k and $70k, driven by spot‑ETF inflows and rising CME open interest.
- Financial Times noted Eurozone inflation rose to 3% in April amid a Middle‑East energy shock, adding macro‑level uncertainty that pressures crypto assets.
Why it matters: Institutional investors in spot BTC ETFs gain a buying opportunity as accumulation builds $65‑$70k, while short‑term traders lose as profit‑taking and net‑short futures pressure price, widening the crypto risk premium amid Middle‑East volatility.
