Bitcoin slips to $75,655 ahead of FOMC; ETFs test $70K

Bitcoin fell from about $79,500 to $75,655 as traders reduced exposure ahead of the Federal Open Market Committee meeting on Wednesday. The decline came as market participants positioned for potential volatility around the policy announcement.

Since early 2025, Bitcoin has recorded price corrections after seven of 10 interest-rate-cut decisions. Seven-day returns after those meetings ranged from gains of 6.92% to losses of 29.57%. Price moves often showed gains in the days before meetings and negative returns in the days after.

Analysts and market data show post-meeting price action has been driven largely by shifts in liquidity and the unwinding of leveraged positions. During a Jan. 29–Feb. 5 drawdown, Bitcoin fell about 30% while futures open interest dropped from roughly $61 billion to $49 billion in a week. That period saw an estimated $2.5 billion in Bitcoin-specific liquidations and about $4.5 billion in total crypto liquidations.

Michael van de Poppe, founder of MN Capital, described the recent pullback as a routine pre-FOMC reaction and noted market caution around Fed policy. He added a technical caveat that holding above $73,000 would support the higher trading range in the near term.

Corporate accumulation continued even as short-term sentiment cooled. One corporate holder known as Strategy increased its Bitcoin balance in 2026 from 672,497 BTC to 818,334 BTC, adding 145,837 BTC. Some purchases were funded through equity-linked instruments called Stretch (STRC) offerings. At the same time, spot Bitcoin ETFs recorded about $3.5 billion in net inflows over the past two months.

Since March, Bitcoin has shown areas of buying interest near $60,000, $65,000 and $70,000. These price bands have been tested during recent volatility and have coincided with the return of institutional demand.

Derivative metrics and ETF activity remain indicators that traders monitor around the FOMC. The Federal Open Market Committee is scheduled to announce its decision on Wednesday, and market participants will watch leverage levels, ETF flows and corporate holdings for any near-term reactions in price.