The crypto market on Thursday checked into the repercussions of no interest rate cuts in the U.S. Bitcoin registered a price drop of nearly five percent in the last few hours, pulling it down to $69,650 from its last day’s price of $72,833. Since the start of this week, analysts had been predicting that the crypto market could suffer a drop if the Fed did not express a dovish forecast — exactly what eventually happened.
Ether joined BTC in clocking losses on Thursday. Its price dipped by nearly four percent in the last 24 hours to trade at $2,155. Its previous day’s rate had reached close to $2,300 before hitting a sharp price correction.
According to market analysts, the recent pullback in Bitcoin and Ethereum is largely driven by macro repricing following stronger-than-expected U.S. inflation data and the latest Federal Reserve decision to retain the interest rate within the range of 3.5 percent to 3.75 percent.
“Technically, Bitcoin is trading below short-term 20/50 EMAs on the 4H chart, with immediate support at $70,000–$69,000 and downside risk toward $67,000. Resistance stands at $73,500 and $75,500–$76,000,” Riya Sehgal, the research analyst at Delta exchange told Coin Headlines. “Ethereum is testing support near its 50 EMA at $2,150, with key levels at $2,100 and $2,000, while resistance is seen at $2,250–$2,350.”
All of the top ten crypto assets are trading in the losses on Thursday. XRP, BNB, Solana, Tron, Dogecoin, and Hyperliquid are crypto assets that clocked losses within the range of 0.5 percent to 3.15 percent.
Chainlink, Monero, Canton, and Stellar underwent price drops of upto four percent, whereas for Zcash, the price tumbled by nearly nine percent over the last day to bring its value to $242.02.
“February PPI came in at 0.7 percent MoM versus 0.3 percent expected, with the yearly print at 3.4 percent, signaling persistent inflationary pressure, indicating inflation could remain elevated into 2026, reducing the likelihood of near-term rate cuts,” Sehgal noted.
The overall crypto market cap tumbled by 3.62 percent over the last day. At the time of writing, the valuation of the crypto market stands at $2.4 trillion, data by CoinMarketCap showed.
Over 140,850 traders were liquidated in the last 24 hours with the total liquidations hitting $518.47 million, showed data by CoinGlass on Thursday.