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Bitcoin breaks three-day losing streak and rises above $76,000 despite $75M in long liquidations
Despite initial volatility triggered by the Federal Reserve’s decision to keep interest rates unchanged, Bitcoin returned to the $76,000 level, setting the stage for potential double-digit gains in April.
Key takeaways
- Bitcoin rebounded to $76,000 after the Fed paused rate hikes and could end April up 13%.
- Volatility led to $266 million in long liquidations, although OKX SG reports $3.7 billion in ETF inflows.
- Youhodler analysts warn Bitcoin could fall below $70,000 if historical Fed leadership patterns repeat.
Intraday volatility and market liquidations
After a slight decline over three consecutive days, Bitcoin reversed trend and posted its first gain of the short trading week. Data shows that after briefly dropping to $75,000 yesterday afternoon following the Fed’s decision to hold rates steady, Bitcoin began to rise. By 9:30 a.m. ET, it had not only reclaimed $76,000 but also briefly tested resistance at $76,500.
However, the move was not smooth: shortly after reaching a morning high of $76,365, the cryptocurrency sharply declined. As the sell-off eased, Bitcoin fell just below $75,400 before beginning its second rally of the day. According to market data, in less than eight hours Bitcoin climbed from that level to $76,528 — the daily high.
Although the price pulled back to $76,300, Bitcoin still closed the 24-hour period up 0.7%, putting it on track to finish April with a 13% gain. If achieved, this would mark the first positive monthly performance for the leading cryptocurrency this year. The April 30 recovery also pushed Bitcoin’s market capitalization to approximately $1.53 trillion.
While Bitcoin ended the 24-hour period with a slight gain, the reversal triggered $75 million in long liquidations versus nearly $17 million in shorts. Overall, the crypto market saw $266 million in leveraged long liquidations compared to $89 million in shorts over the same period.
Although widely expected, the Fed’s rate decision initially caused a sharp drop in Bitcoin, but only briefly. For market participants like Gracie Lin, CEO of OKX SG, post-announcement volatility should not overshadow what has been an eight-week structural recovery. She pointed to continued inflows into spot Bitcoin ETFs as evidence.
“From late February to the end of April, approximately $3.7 billion flowed into U.S. spot Bitcoin ETFs — marking the first sustained inflow period in 2026 after four months of outflows,” Lin said. “Meanwhile, despite macroeconomic and geopolitical shocks, Bitcoin recently tested the $80,000 level. Singapore, given its strategic position and clear regulatory framework, is a hub for institutional activity, and the investors we speak with here are not focused on individual Fed decisions — they are watching whether institutional participation persists.”
Meanwhile, Sergey Gorev, head of risk at Youhodler, noted that Bitcoin has declined for two consecutive quarters — a “very rare occurrence.” While every crypto winter is followed by strong recovery, he warned of potential headwinds.
“But we may be facing another negative quarter,” Gorev said. “Every time new leadership replaces the old at the Federal Reserve, Bitcoin’s price starts to decline. We’ve seen this happen three times in a row. Now we are approaching another leadership transition at the Fed.”
He added that if Bitcoin repeats its historical pattern of dropping in the week following Fed meetings — as it has after eight of the last nine meetings — the price could easily fall below $70,000.
See also: "$565 million liquidated in 24 hours as Bitcoin falls below $76K"
