Bitcoin consolidates at 76K, ETF bleeds $1.26 billion over 6 consecutive days, market waits for the first FOMC on 6/17

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Tuesday morning (5/26) the crypto market continued its weak consolidation. Bitcoin is currently quoted at $76,727, down 0.41% over 24 hours; Ethereum at $2,094, down 0.41%; SOL down 1.25% to $84.32. CoinGlass data shows that 24-hour network-wide liquidations reached $194 million, with 76,576 traders liquidated, long positions accounting for $104 million (53.5%). ETF capital flows continue to deteriorate, with BTC spot ETFs posting six consecutive days of net outflows totaling $1.26 billion; after Kevin Warsh was sworn in at the White House on 5/22 to take over the Fed, the market is holding its breath waiting for him to set the tone at his first FOMC meeting on 6/17. (Previously: Crypto keeps falling! BTC plunges to $74K, network-wide liquidations exceed $2.5 billion) (Background: Kevin Warsh sworn in at the White House to officially take over as Fed Chair! Trump: Please maintain absolute independence) Bitcoin slid from its 14-day peak of $81,700 on May 15 (02:00 Taipei time) all the way down, touching a 14-day trough of $74,501 on May 23 at 16:00, with a weekly drop of more than 8.8%; although it rebounded briefly afterward, by Tuesday morning at 09:02 it only managed to hold at $76,727.82 (24h high $77,905 / low $76,575), with heavy pressure overhead and unclear directional sense. This is not a crash, but it can't be called a bottoming out either—it's more like post-quake consolidation after a high reversal, with both bulls and bears waiting for Warsh's first FOMC to give an indication. Ethereum is similarly weak, currently quoted at $2,094.67 (24h high $2,141 / low $2,084), down 0.41%; the 14-day peak was $2,333 on May 12 at 09:00, and the trough was $2,025 on May 23 at 16:01, currently hovering near the trough without showing effective support. CoinGlass 24-hour data as of Tuesday morning at 09:02: network-wide liquidations of $194 million, with 76,576 traders liquidated; long positions accounted for $103.65M (53.5%), short positions $89.93M (46.5%). Coin distribution: BTC liquidations $19.66M, ETH liquidations $8.30M. What is worth noting is the past 1-hour data: Rekt scale reached $44.47M, of which long positions reached as high as $43.17M (97%), showing precise short-term downside sniping of bulls; the largest single position was a BTC-USD long on Hyperliquid, with liquidation amount of $10.52M. Looking back further, 4-hour Rekt $61.84M, 12-hour $132.14M, with bearish pressure continuing. 1. BTC spot ETFs see six consecutive days of net outflows. SoSoValue data shows that from May 11 to 17, BTC ETFs had cumulative outflows of $1.26 billion, with BlackRock IBIT alone absorbing $1.01 billion of outflows; net inflows for the full year of 2026 have shrunk to just $536M, compared to the same period in 2025 when IBIT alone attracted over $25B, the speed at which institutional capital is withdrawing is alarming. This is the most direct capital-flow explanation for this wave of decline. 2. CPI overheating, market re-pricing to "no rate cuts or even rate hikes". April CPI year-over-year +3.8% (market estimate 3.7%), month-over-month +0.6% (estimate 0.3%), both higher than expected. Traders have shifted from the original "rate cut expectations" to pricing in "rates unchanged or even rate hikes in 2026", with the June 17 FOMC expected to maintain 3.50%-3.75% for the third standstill. The hawkish shift in rate outlook directly suppresses rebound momentum for risk assets like crypto. 3. Warsh was already sworn in at the White House on 5/22 to take over the Fed, and will preside over his first FOMC on 6/17. Kevin Warsh narrowly won Senate confirmation 54-45 on 5/13, and on 5/22 was sworn in by Justice Clarence Thomas at the White House, officially taking office as the 17th Chairman of the Fed. Although Warsh has been viewed by the market as relatively dovish in the past (analysts such as Raoul Pal expect him to tolerate inflation in exchange for an AI productivity boom, with crypto and gold potentially being the biggest winners), the FOMC as a whole has already completed its hawkish pivot during Powell's tenure, and the new chairman's first meeting faces not "whether to cut rates" but the dilemma of "maintain status quo or hike again". The market is holding its breath waiting for his first policy tone. On the US stock side, S&P 500 (7,473.47, +0.37%) and Nasdaq (26,343.97, +0.19%) closed in the green simultaneously on 5/22, but BTC did not follow the rally, showing that the crypto market has its own independent capital pressure logic. SOL is currently quoted at $84.32 (24h high $86.52 / low $83.90), down 1.25%, the deepest decline among the four coins; the 14-day peak was $97.55 on May 12 at 09:00, the trough was $81.92 touched on May 23 at 18:00, currently still about 13.6% off the peak. XRP is currently quoted at $1.3408 (24h high $1.3657 / low $1.3352), down 0.75%; 14-day peak of $1.5371 on May 15 at 03:01, trough of $1.3091 on May 23 at 17:00, currently consolidating in a narrow range above the trough. The Alternative.me Fear and Greed Index reads 34 today (Fear), yesterday 30, last week 25 (Extreme Fear), last month 33. The number climbing up from the trough is a positive signal, but 34 still falls within the fear zone, still a distance from "neutral (50)". Reviewing the past two weeks: 5/15 the Clarity Act passing took Bitcoin through the $81,700 peak, liquidating shorts; 5/13 Warsh passed the Senate, 5/22 sworn in at the White House; 5/19 and 5/23 saw consecutive late-night massacres and single-day liquidation storms breaking through $75K; currently consolidating between $76K-$77K. The next directional signal can almost certainly be expected to wait for Warsh's first FOMC on 6/17—when the ETF bleeding will stop, and whether May CPI data can cool down, are simultaneous observation indicators. 📍Related Reports📍 This article is compiled and reported by BlockTempo.

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