The market is cooling after a rebound: Bitcoin -1.8%, $252 million liquidation and waiting for a signal from the Fed

Over the past 24 hours, the crypto market has lost 2% of capitalization – to $2.48 trillion. Of the $252 million in liquidations, $167.5 million were longs.

After a strong rebound at the beginning of the week, when Bitcoin touched $74,500, the market enters Friday with a minus sign. BTC is trading in the area of ​​$70,500–$70,950, having lost 1.8–2.5% per day. Ethereum fell back to $2,063–$2,077 (-2.99%), XRP, BNB and Solana followed the general dynamics. The correction is technically expected – after almost 5.5% growth over the previous days, the market needs a release.
Under the hood is a disturbing picture. CoinGlass data records $252 million in liquidations in 24 hours, of which $167.5 million were forced closures of long positions. Open interest during the growth period increased by 6% while the price moved only 3.8% – a signal that the rally was supported by the shoulders, and not by real demand. The psychological level of $70,000 became a natural profit-taking point.

What’s next

The market is turning its attention to two events. March 18 – Fed meeting with a rate decision: any signal of easing could become a catalyst for the next wave. Before this, there were the DC Blockchain Summit in Washington and the Digital Asset Summit in New York, where public statements by regulators traditionally move markets.

Bitcoin, meanwhile, is approaching a historic milestone: according to Grayscale, the 20 millionth coin out of a possible 21 million will be mined in March 2026. For the first time in human history, an asset with a mathematically provable final issue will reach 95% of its limit. Fear & Greed Index at 18 – “Extreme Fear”.📌Key facts
▸ BTC: ~$70,500–$70,950 (-1.8–2.5% over 24 hours)
▸ ETH: ~$2,063–$2,077 (-2.99%)
▸ Market capitalization: $2.48 trillion (-2%)
▸ Liquidations: $252 million in 24 hours, of which $167.5 million are longs
▸ Fear & Greed Index: 18 – “Extreme Fear”
▸ March 18: Fed rate decision is the main immediate catalyst

What does this mean for the market

The correction after the leverage rally is healthy. The key question is: is there real spot demand behind the move, or is the market trading on borrowed money again? Holding $68,000–$70,000 is a bullish signal. A break below is a risk of a return to the range of $63,000–$65,000, where a large cluster of liquidations is concentrated.⚠️ The material is for informational purposes only and is not an investment recommendation.