At the time of writing, bitcoin is trading at $69,988, having fallen 5.7% overnight.
The total volume of liquidations on the futures market reached $558.26 million.
Spot bitcoin-ETFs broke a seven-day streak of capital inflows. On March 18, investment products recorded net outflows of $129.6 million.
MN Trading founder Michael van de Poppe compared asset performance on the day of the Fed meeting:
– Oil and gas rose in value;
– gold lost 4%;
– stock indices declined by several percent;
– bitcoin down 3.5%.
Similar capital movements were observed in January and early March. Usually they coincided with sharp fluctuations in the exchange rate or local market reversals. The transfer of funds to the exchange often signals traders’ intention to lock in profits.
