Macro pressure is building again, and Bitcoin is still standing.
Liquidity has quietly expanded, political pressure on the Fed has intensified, and rate-cut hopes remain nearly dead.
Meanwhile, the dollar is strengthening, stocks are slipping, and Bitcoin [BTC] is trying to stay firm through the noise. So, what exactly is shaping this clash between macro pressure and Bitcoin’s resilience?
Fed Balance Sheet Expands By Over $110B
The Fed did not call it QE, but the balance sheet still moved higher.
Since the 1st of December 2025, the balance sheet had expanded by more than $110 billion through reserve management purchases. These were technical short-term Treasury buys meant to keep bank reserves ample as Treasury bill issuance stayed heavy and demand kept rising.
That support eased money market stress and helped prevent fresh funding pressure. Therefore, the move stayed neutral-to-positive for risk assets in the short term, even without looking like a full stimulus.
Trump Pressures Powell As Markets Price Near-Zero Odds Of A Cut
Trump brought the pressure, but markets refused to flinch.
On the 12th of March, 2026, Trump said Powell should cut rates “IMMEDIATELY” instead of waiting for the next FOMC meeting that’s on the 17th and 18th of March, 2026. However, traders still priced only a 0.6% chance of a cut, showing an overwhelming expectation that rates would stay unchanged.
That gap exposed the real mood clearly.
DXY climbs back above 100 as S&P 500 weakens
The dollar strengthened again, and risk appetite looked shaky. The DXY climbed back above $100 and traded around $100.494 on the 14th of March.
That move came as safe-haven demand rose, tightening financial conditions once again. At the same time, the S&P 500 weakened to $6,632.20.
A stronger dollar usually hits crypto badly on paper. However, Bitcoin did not crack right away, and that made this setup more interesting.
Can Bitcoin hold firm after a second green weekly candle?
Bitcoin had already bounced from the $60K dip and printed a second green weekly candle.
After six straight red candles, that was not nothing. Price kept trading around $70K and held its ground while the broader macro backdrop stayed messy.
Final Thoughts
- The Fed added support, but markets still priced only a 0.6% chance of a rate cut.
- If Bitcoin kept holding near $70K, bears would have a much harder time calling for weakness.
