Gate News reports that on March 19, Bitcoin fell back to around $70,000, and Ethereum dropped to $2,160. The Federal Reserve kept interest rates unchanged on Wednesday, maintaining the federal funds rate range at 3.50% to 3.75%, pausing the rate cut cycle. After Israel attacked the South Pars natural gas field in Iran, Iran launched attacks on key energy infrastructure in the Gulf. Brent crude oil rose to $114, Oman crude oil increased to $150, and European natural gas futures surged about 25% to over $78 per megawatt-hour on Thursday.
In derivatives, nearly $600 million worth of leveraged contract liquidations occurred on crypto platforms in the past 24 hours, with longs dominating. The total open interest in market futures decreased by 5.6% to $106.9 billion, with Ethereum futures open interest down 9%. Mainstream cryptocurrencies like BTC, ETH, BNB, and SOL have turned their funding rates negative. The 30-day implied volatility index for Bitcoin (BVIV) rose over 5% to 58.36%, ending its previous week’s downward trend. Both Bitcoin and Ethereum put options skew on Deribit strengthened simultaneously.
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