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Macro pressure is increasing again and Bitcoin is still standing.
Liquidity has quietly expanded, political pressure on the Fed has intensified, and hopes for a rate cut are all but dead.
Meanwhile, the dollar is strengthening, stocks are falling, and Bitcoin (BTC) is trying to hold firm despite the noise. So what exactly is shaping this clash between macro pressure and Bitcoin’s resilience?
Fed Balance Sheet Expanded by Over $110 Billion
The Fed didn’t call it QE, but the balance sheet still moved higher.
Since December 1, 2025, the balance sheet has expanded by more than $110 billion through reserve management purchases. These were short-term technical Treasury purchases intended to keep bank reserves abundant as Treasury bill issuance remained sluggish and demand continued to rise.
This support eased stress in the money market and helped prevent new funding pressures. Therefore, even if the move did not appear to be a full-blown stimulus, it remained neutral to positive for risky assets in the short term.
Trump Pressures Powell While Chances of a Price Cut in Markets Are Near Zero
Trump pressed on, but markets refused to back down.
On March 12, 2026, Trump said Powell should cut rates “IMMEDIATELY” rather than waiting for the next FOMC meeting on March 17 and 18, 2026. But traders are still pricing in a chance of just a 0.6% discount, indicating a high expectation that rates will remain unchanged.
This gap clearly revealed his true mood.
DXY climbs above 100 as S&P 500 weakens
The dollar strengthened again and risk appetite appeared weak. DXY broke back above $100 and traded around $100,494 on March 14.
The move comes as demand for safe havens increases and financial conditions tighten once again. At the same time, the S&P 500 fell to $6,632.20.
A stronger dollar usually hits crypto hard on paper. However, Bitcoin did not crack immediately, which made this pattern more interesting.
Can Bitcoin remain intact after the second green weekly candle?
bitcoin It has already bounced off the $60k bottom and printed a second green weekly candle.
After six rows of red candles, it was nothing. The price continued to trade near $70,000 and maintained its position while the broader macro backdrop remained messy.
Final Thoughts
- The Fed increased support, but markets still priced the possibility of a rate cut at only 0.6%.
- If Bitcoin continues to hold near $70,000, bears would have a much harder time calling weakness.
