Bitcoin is holding just below $70k after a hawkish FOMC, ETF outflows, and a shift to Fear, with weak long conviction but easing miner selling and difficulty.
Summary
- BTC slipped roughly 5% post-FOMC, from near $74k to testing $70k, as the Fed signaled fewer 2026 cuts, ETFs flipped from $1.1b inflows to a $129m outflow, and the Fear & Greed Index fell to 28.
- Bitcoin’s 30-day correlation to the S&P 500 has climbed to 0.74, while CoinGlass data show shorts built into the $68,750 dip but open interest barely moved on the rebound, implying range-bound, low-conviction trade.
- Miner net outflows are down 82% from February peaks and a ~7.5% difficulty drop should ease cost…
