Bitcoin price prediction: Further downside risk ahead? BTC struggles amid sustained selling

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Bitcoin drops 2.18% today to $69,153

Highlights

MicroStrategy increased its Bitcoin holdings by acquiring 89,618 BTC in Q1, reaching a total of 761,068 BTC.
US spot Bitcoin ETFs saw $155 million in daily net inflows and a two-week total of $1.47 billion, amid continued selling pressure.
Bitcoin is trading below key moving averages, with technical signals favoring further downside and a likely range of $67,950–$69,800 over the next week.

ETF inflows rise as institutions accumulate despite persistent selling

MicroStrategy reported the purchase of 89,618 BTC in the first quarter, increasing its total holdings to 761,068 BTC. Additionally, Morgan Stanley moved toward launching a spot Bitcoin ETF, with intentions to be the first U.S. bank offering such a product directly. Recent filings and institutional allocations in U.S. spot Bitcoin ETFs led to approximately $155 million in net inflows on March 21 and a two-week total of about $1.47 billion, though price action has remained under broader selling pressure.

Mixed momentum and resistance as technicals confirm seller dominance

Technically, BTC faces resistance at the Ichimoku Kijun ($69,255.14), just above the current price, while momentum remains divergent: D1 MACD signals buying, but both D1 and W1 ADX highlight a weak, seller-dominated trend. Daily and weekly RSI levels at 48.80 and 34.47, respectively, point to continued selling without oversold conditions, and Stoch RSI stays neutral. BBP on the daily reads overbought, but all intraday BBP points to strong selling, further confirming seller dominance in the current session.

Downward bias prevails as volatility bands define near-term risk

Over the next five trading days, BTC is expected to trade in the $67,950–$69,800 range, which defines a typical volatility band relative to current levels. Technical signals favor a continued downward bias with strong probabilities of further declines. A sideways scenario would see stabilization just above $68,000, while a break above immediate resistance ($69,255) could allow a test of $69,800. Conversely, a drop below $68,000 would likely increase downside momentum and push BTC toward new recent lows.

Anton Kharitonov, analyst at Traders Union, sees persistent technical and sentiment headwinds for Bitcoin. Despite institutional inflows and ETF interest, the price is suppressed by firm seller control and weak momentum. Resistance at $69,255.14 remains critical, with the trend biased to further downside unless bulls reclaim key levels. "Until BTC can regain the $69,255 resistance and break sustained seller dominance, I remain defensively positioned and expect further pressure on prices."

Earlier, analysts noted that Bitcoin's short-term price direction remains highly susceptible to external geopolitical factors and shifting liquidity conditions. The latest technical setup reinforces this sensitivity, underscoring that a sustained move above $69,255 or below $68,000 will likely determine the direction of the next significant trend.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.