BTC drops sharply by 0.41% in 15 minutes: PCE inflation beats expectations, cooling rate-cut expectations and putting pressure on risk assets

From 16:15 to 16:30 (UTC) on May 29, 2026, BTC plunged 0.41% within 15 minutes. The price fell from $73,968.7 to $73,563.1, with a range of 0.55%. Market sentiment was extremely cautious. While the volatility was relatively controllable, sudden changes in the macro environment became the core driver of short-term selling.

The main catalyst for this move was that April’s PCE inflation data came in above expectations. The released PCE year-over-year figure was 3.8%, the highest level since May 2023, and the probability of rate cuts immediately dropped to below 1.1%. Inflation stickiness exceeding expectations, combined with easing policies that are hard to implement quickly, kept real interest rates elevated. As BTC is a high-beta risk asset, it faced pressure from institutional capital rotation, and selloff sentiment concentrated in a short-term window.

At the same time, multiple resonances were present at the market structure level. First, the funding rate, although still positive, has fallen significantly from its early-year highs; long leverage is in a deleveraging process, and there is insufficient support from buyers. Second, the Fear and Greed Index at 23 indicates the market is in extreme fear, so any negative macro information is amplified. Third, the technical picture remains weak—price has been trading below the 50-day moving average, and the RSI is approaching the oversold threshold at 35.67. Technical sell pressure and fundamental negative catalysts are combining.

Key points to watch in the short term: current support levels are $74,300, $71,721, and the $70,000 round-number mark in sequence. If macro expectations continue to worsen, there may be further drawdown risk. Investors should closely track the downstream impact of the PCE data, comments from Fed officials, and BTC spot ETF fund flows, and remain alert to potential liquidation risks for leveraged traders.