Bitcoin Faces Short-Term Pressure Amid Weak U.S. Demand and Fed Rate Hold

Fed's 9-3 rate hold failed to stimulate liquidity. Negative Coinbase premium and rising exchange reserves signal weak U.S. spot demand, keeping BTC under pressure.

Woofun AI notes that the Federal Reserve’s 9-to-3 vote to maintain interest rates at 3.50% to 3.75% did not generate new liquidity, leaving Bitcoin demand constrained. The Coinbase premium index remains deeply negative near -0.11, reflecting weaker U.S. pricing compared to offshore markets. Total open interest stays below the 100-day moving average, while CME options exposure has contracted significantly from its first-quarter peak. Exchange reserves have rebounded to approximately 2.72 million BTC, indicating increased sellable supply. Analysts assert that without stronger U.S. demand, the rate pause merely prevents further tightening rather than supporting price appreciation, likely keeping Bitcoin under short-term pressure.