Key facts
- Bitcoin traded around $63,915, showing resilience despite geopolitical events and Fed uncertainty.
- The Federal Reserve held interest rates steady, but three members dissented, voting for a hike.
- Iran launched ballistic missiles at U.S. troops, prompting a strong response vow from President Trump.
- Oil prices surged following the missile launches, while U.S. equities fell.
- Crypto futures saw $286 million in liquidations over 24 hours, with longs accounting for $186 million.
- Uniswap's UNI token was a notable performer, while altcoin markets showed bearish sentiment.
Bitcoin held its ground near $63,915 on Thursday, demonstrating resilience despite a volatile session for global risk assets and uncertainty surrounding the Federal Reserve's monetary policy. The Fed maintained its benchmark interest rate, but a hawkish dissent from three committee members signaled that further rate hikes remain on the table, potentially dampening appetite for riskier investments like cryptocurrencies.
Adding to market jitters, Iran launched multiple ballistic missiles at U.S. troops, prompting President Donald Trump to vow a strong response. This geopolitical development sent oil prices surging and U.S. equities lower, though futures for the S&P 500 and Nasdaq indices showed slight gains. The market awaits earnings reports from tech giants Microsoft and Meta for further sentiment shifts.
The crypto market experienced significant liquidations, with approximately $286 million in leveraged futures positions unwound in the preceding 24 hours. While Bitcoin and Ether saw only minor price changes, the derivatives market showed mixed signals. The futures long/short taker volume ratio flipped slightly bearish, indicating a greater proportion of short positions. Uniswap's UNI token was a standout performer, while many altcoins exhibited bearish price action. Bitcoin's open interest remained steady, suggesting limited demand for leverage, and its implied volatility index (BVIV) dropped near historical floor levels, signaling caution.