Bitcoins <\/p>\n
Bitcoin\u2019s<\/a> (BTC) move toward US$75,000 (AU$106K) is facing pressure from both market structure and macro policy, with on-chain data pointing to resistance ahead and the Federal Reserve set to announce its latest rate decision on March 18.<\/p>\n CryptoQuant\u2019s head of research, Julio Moreno, identified two key resistance levels at about US$75,000 (AU$106,500) and US$85,000 (AU$120,700). Both are based on the Traders\u2019 On-chain Realized Price, which measures the average cost basis of coins moved by short-term active traders and has often acted as a ceiling in bear markets.\u00a0<\/p>\n Bitcoin reached an intraday high of US$75,991 (AU$107,908) on March 17 before retreating, while CryptoQuant has continued to argue since late 2025 that the wider market remains in a bear cycle.<\/p>\n Related: SEC and CFTC Sign Pact to Coordinate Crypto Oversight<\/a><\/strong><\/p>\n The latest rebound has been driven largely by derivatives (according to the analysts). Short liquidations picked up after Bitcoin moved above<\/a> US$70,000 (AU$99,400), while new long positions built quickly above US$73,000 (AU$103K).\u00a0<\/p>\n Open interest rose 11.3% to US$84.1 billion (AU$119.4 billion), and funding rates, which turned negative on March 12, have moved back into positive territory as long traders returned.<\/p>\n CryptoQuant described the advance as a derivatives-led relief rally rather than the start of a broader bullish trend. The firm also pointed to signs of distribution, with 6,100 BTC sent to exchanges on March 16.\u00a0<\/p>\n Large deposits made up 63% of those inflows, the highest share since at least Oct. 15, 2025, suggesting the risk of renewed selling pressure.<\/p>\n Attention is now turning to the Federal Open Market Committee, which concludes its meeting on March 18. Markets overwhelmingly expect rates to stay at 3.50% to 3.75%, but Bitcoin has fallen after seven of the past eight Fed decisions.<\/p>\n Traders are turning bullish ahead of the Fed.<\/p>\n Shorts were cleared as BTC reclaimed $70K, with fresh longs building above $73K.<\/p>\n Positioning has flipped. Long positions are now dominating the perpetual futures market. pic.twitter.com\/O3xjvBGoZf<\/a><\/p>\n<\/div>\n \u2014 CryptoQuant.com (@cryptoquant_com) March 17, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n The meeting may carry added significance because it also includes updated economic projections and comes as oil prices remain elevated after Iran-related supply disruptions.<\/p>\n Read more: FBI Probes Malware Hidden in Steam Games Targeting PC Players<\/a><\/strong><\/p>\n<\/p><\/div>\nFed Decision Looms<\/h2>\n
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