Bittensor

Memecoin

Reserve

Surge

Key Takeaways
<ul>
 <li><a href="https://coinstats.app/coins/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> fell to $70,000 as the Federal Reserve held interest rates steady and geopolitical tensions drove energy prices higher</li>
 <li>Nearly $600 million in leveraged crypto futures liquidations occurred in 24 hours, particularly wiping out long positions.</li>
 <li>Altcoins struggled on thin liquidity, though NEO and ETHFI recorded gains.</li>
 <li>Fear metrics spiked with <a href="https://coinstats.app/coins/bitcoin/" rel="noopener noreferrer nofollow">bitcoin</a> volatility jumping over 5%.</li>
</ul>
Bitcoin fell below $70,000 on Thursday as soaring energy prices and the Federal Reserve’s decision to hold interest rates steady weighed on risk assets globally.
<a href="https://coinstats.app/coins/bitcoin/" rel="noopener noreferrer nofollow">BTC</a> traded near $70,000, down 1.6% since midnight UTC, while <a href="https://coinstats.app/coins/ethereum/" rel="noopener noreferrer nofollow">Ether</a> declined 1.7% to $2,160. The moves tracked a broader market selloff after the Fed maintained rates in the 3.50-3.75% range on Wednesday, bolstering the U.S. dollar and triggering risk-off sentiment across equities and crypto.
Energy markets amplified the pressure. Brent crude oil surged to $114, and Oman crude jumped to $150 after Iran attacked key Gulf energy infrastructure following an Israeli strike on its South Pars gas field. European natural gas futures spiked approximately 25% to above $78 per MWh. <a href="https://med.etoro.com/B10215_A127826_TClick_Scb-nasdaq.aspx?TargetURL=https://www.etoro.com/markets/nsdq100" rel="noopener noreferrer nofollow">Nasdaq</a> 100 futures fell around 0.3%, underscoring the broader market selloff.
<h2 id="b-liquidations-hit-600-million-b">Liquidations Hit $600 Million</h2>
The overnight decline sparked significant derivative liquidations, with nearly $600 million in leveraged crypto futures bets wiped out over 24 hours. Long positions accounted for most of the losses, indicating bullish traders were caught off guard.
Futures open interest fell 5.6% to $106.90 billion. <a href="https://coinstats.app/coins/ethereum/" rel="noopener noreferrer nofollow">Ether</a> futures open interest dropped 9% alongside a 6% decline in <a href="https://coinstats.app/coins/ethereum/" rel="noopener noreferrer nofollow">ETH</a>’s spot price, signaling capital outflows. Negative funding rates across <a href="https://coinstats.app/coins/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>, <a href="https://coinstats.app/coins/ethereum/" rel="noopener noreferrer nofollow">ETH</a>, <a href="https://coinstats.app/coins/binance-coin/" rel="noopener noreferrer nofollow">BNB</a>, <a href="https://coinstats.app/coins/solana/" rel="noopener noreferrer nofollow">SOL</a>, and other tokens indicate bearish short positions are gaining favor again.
Fear metrics also deteriorated. Volmex’s BVIV, which measures 30-day implied bitcoin volatility, jumped over 5% to 58.36%, ending a week-long decline.&nbsp;
<h2 id="b-altcoins-struggle-on-thin-liquidity-b">Altcoins Struggle on Thin Liquidity</h2>
The altcoin market faced headwinds from limited liquidity in a fractured ecosystem still recovering from October’s $19 billion leverage wipeout. Bittensor fell 8.8%, and <a href="https://med.etoro.com/B10215_A127826_TClick_Scb-Hyperliquid.aspx?TargetURL=https://www.etoro.com/markets/HYPE" rel="noopener noreferrer nofollow">hyperliquid</a> declined 6.5% since midnight.
A few tokens bucked the trend. NEO gained 4.2% while restaking token ETHFI added 1.5% to reach $0.55, continuing its strong start to 2026. The CoinDesk 20 fell around 1%, while the DeFi Select Index and CoinDesk Memecoin Index declined 1.4% and 2%, respectively.
<h2 id="b-what-s-next-b">What’s Next</h2>
The market remains caught between macro headwinds from geopolitical tensions and monetary policy uncertainty. Bitcoin’s struggles below $70,000 suggest further volatility could test support levels as investors reassess risk exposure amid elevated energy costs and the Fed’s extended pause on rate cuts.
This article was originally published as <a href="https://www.cryptobreaking.com/bitcoin-slips-below-70000-as/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Bitcoin Slips Below $70,000 as Fed Rate Pause and Oil Surge Pressure Markets</a> on <a href="https://www.cryptobreaking.com/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Crypto Breaking News</a> – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin Slips Below $70,000 as Fed Rate Pause and Oil Surge Pressure Markets

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