BTC drops 0.42% in 15 minutes: Market reduces positions and support levels break before FOMC meeting, triggering short-term selling pressure

Between April 29, 2026, 15:00 and 15:15 (UTC), the BTC price return was -0.42%, with the price dropping briefly from 76,631.1 USDT to 76,154.1 USDT, a volatility of 0.62%. Market sentiment was cautious ahead of the macro event window, with clear short-term selling pressure.

The main driver of this movement was market deleveraging ahead of the Federal Reserve FOMC meeting. April 29 was the FOMC meeting day, and before the rate decision was announced, the market was in a wait-and-see mode. Some investors chose to reduce their positions early to hedge risks, leading to concentrated short-term selling. Meanwhile, the technical support level around $77,000 was breached, triggering some stop-loss orders, which further accelerated the downward price movement.

Additionally, on-chain data shows that the proportion of whale transfers to exchanges has been steadily increasing recently. Large holders remain active, although no large transfers were concentrated within the 15-minute window, overall whale activity added to localized selling pressure. Furthermore, increased volatility in the Japanese yen exchange rate has led to marginal tightening of global liquidity, with some funds flowing out of the crypto market, resonating with the FOMC event. Notably, ETF net inflows on the day were about $933 million, indicating continued institutional buying, but this was insufficient to offset the pressure from short-term macro sentiment and technical factors. The derivatives market remains stable, with no extreme deviations in funding rates, and no large-scale margin liquidations observed.

Market volatility risks still exist. Going forward, attention should be paid to the FOMC meeting results, the performance of the key support level at $77,000, and changes in on-chain fund flows. It is recommended to be cautious of short-term volatility during periods of macro event concentration and liquidity fragility, avoiding heavy position building.