Feedback on performance

Hi,

Last night i had a disastrous feedback with my manager. I was not promoted to snr con while i worked really hard for 2.5 years and then i requested for a pay increase - absolutely nothing. Bonuse - nothing. He is jist taking in circles about lack of "fire" to get promoted. What do it mean, i have put in night and days to get the work done and suddenly he is asking why don't you do something even more extra. U are replaceable so why would anyone have to promote you.

I have really hard time processing this. I just froze and nodded in agreement. I felt really helpless. Just sharing let me know how to take feedback well and show the "fire"