According to Woofun AI, the Federal Reserve decided to keep its benchmark interest rate at the 3.75%–4.00% range, a decision that matched roughly 90% of market expectations and directly triggered a rebound in the digital asset market.
Bitcoin's price experienced sharp swings before and after the decision, briefly falling below $84,000 but eventually stabilizing and recovering to around the $81,000 mark.
This price recovery was not driven purely by fundamentals; the forced closure of a large number of short positions in the derivatives market provided the key upward momentum, allowing BTC to reestablish a short-term support level amid the volatility.
From a macro market data perspective, the total global digital asset market capitalization reached $2.71 trillion on the 28th, up 0.54% from the previous day; 24-hour trading volume climbed to $63.15 billion, an increase of 6.49%.
Data compiled by Woofun AI shows that Bitcoin's market share was 60.1%, while Ethereum's share was 10.6%, with the two together occupying a dominant position in the market.
In terms of specific token performance, BTC rose 0.72% to $81,253.17; ETH gained 1.03% to $2,368.06; SOL showed strong momentum, rising 1.83% to $102.92; XRP rose 0.87% to $1.33; and BNB gained 0.99% to $755.23.
In the meme coin sector, DOGE rose 2.52% to $0.08026, while PEPE surged about 13.5%, indicating that funds were chasing higher-risk assets.
By contrast, TRX fell 0.21% to $0.3294 and XMR dropped 0.31% to $600.79, showing a divergent trend.
Liquidation data from the derivatives market revealed the micro-structure of this rebound.
At the time, total liquidations across all digital assets exceeded $167 million, of which short position liquidations amounted to about $110 million, accounting for roughly 66% of the total.
In Bitcoin's separate liquidation session, the liquidation amount was about $58 million, of which short position liquidations exceeded $46 million.
This forced stop-loss behavior on leveraged positions created a positive feedback loop during the price rise, further pushing asset prices higher.
On market sentiment, CoinMarketCap's Fear and Greed Index stood at 46, at a "neutral" level; the altcoin index was 60, indicating that major cryptocurrencies other than Bitcoin also saw a wave of buying, though overall investment sentiment remained cautious.
Looking ahead, market trends will be influenced by both the Federal Reserve's policy path and the readjustment of derivatives positions.
MN Trading founder Michaël van de Poppe (@CryptoMichNL) noted in his analysis that spot markets have continued to see funds buying Bitcoin recently, while in the perpetual futures market, more participants have chosen hedging trades due to uncertainty surrounding the U.S. midterm elections and war risks.
He believes the market correction may be nearing its end, and as the expiration of 30-day options approaches, the market could see stronger volatility in the next one to two weeks and may form an upward trend.
However, whether Bitcoin can effectively break through the key $80,000 to $82,000 range will be the core variable determining its short-term direction.
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