Today (March 28, 2026), the cryptocurrency market was primarily impacted by a "macroeconomic policy shift" and "derivative market expirations," leading to a risk-averse sentiment and downward pressure on Bitcoin prices.

Concerns over inflation triggered by geopolitical conflicts and the large-scale expiration of options caused Bitcoin to briefly fall below the $66,000 mark in early trading, hitting the lowest point since March 2. As of today, its price hovered around $66,000, with a 24-hour decline of over 3.6%.

📊 Today's Key Event Analysis

Event Dimension Specific Performance Impact on the Market
Macroeconomic Pressure U.S. Treasury yields surged (10-year at 4.42%), with market pricing indicating an increased probability of rate hikes in 2026. As a liquidity-sensitive asset, Bitcoin was sold off under "rate hike expectations," leading to capital outflows from risk assets.
Geopolitical Escalation Tensions in the Middle East intensified, with attacks on Iran's nuclear facilities raising concerns over oil supply and runaway inflation. Market risk aversion increased, with investors withdrawing from cryptocurrencies and other risk assets, shifting toward gold and traditional safe-haven assets.
Derivative Market Impact Approximately $14 billion in Bitcoin options expired yesterday, accounting for 40% of Deribit’s open interest. The large expiration increased market volatility and revealed a cautious market tone post-expiry, resulting in price declines.
Capital Flow Trends Bitcoin ETFs from institutions like BlackRock experienced a net outflow of $201 million in a single day. This indicates weakening institutional investor sentiment, increased short-term selling pressure, and Coinbase’s premium turning negative, suggesting selling pressure mainly from U.S. investors.

📉 Impact on Bitcoin Price Trends

Overall, today’s events point to a clear conclusion: Bitcoin is short-term shifting from a "safe-haven narrative" back to a "macro liquidity narrative," with obvious downward pressure.

· Market Sentiment Deterioration: Many long positions were liquidated. Over the past 24 hours, more than 126,000 traders were liquidated across the network, with a total liquidation amount of $440 million, nearly 90% of which were long positions, indicating heavy losses for leveraged traders. Panic spread among investors, with predictive market data showing a higher probability of Bitcoin dropping to $55,000 than rebounding to $84,000.
· Core Contradiction Shift: The previous "war safe-haven" logic failed to support Bitcoin’s rise. The core market contradiction has shifted to "secondary inflation" and "rate hike expectations" driven by the war. As long as U.S. Treasury yields and rate hike expectations remain high, Bitcoin as a risk asset will continue to face selling pressure.
· Short-term Outlook: In the near term, Bitcoin’s movement will heavily depend on macroeconomic data (such as PCE inflation figures) and geopolitical developments. Under the expectation of tightening liquidity, the market needs time to digest negative news, and prices may find new support in the $60,000–$66,000 range.

Regarding the current market correction, do you plan to wait and see for stabilization, or do you see an opportunity for phased accumulation? $BTC