Bitcoin remains under strong pressure. Over the past few hours, BTC has accelerated its decline again, dropping to around $73K and marking its lowest levels in several weeks.
Selling pressure has intensified following a new wave of ETF outflows, rising U.S. Treasury yields, and a deterioration in global risk appetite amid escalating tensions between the U.S. and Iran. The crypto market has also faced massive long liquidations — total forced liquidations have approached $700 million in just one day.
ETF outflows become the key bearish signal
The primary driver behind the current decline is the outflow of institutional capital from spot Bitcoin ETFs. Over the past two weeks, total outflows have exceeded $2.5 billion. Additionally, the market was unsettled by a large dark pool transaction involving BlackRock’s IBIT shares worth approximately $1.3 billion. Analysts note that the current correction no longer looks like simple profit-taking but rather a deeper reduction in risk exposure by major players.
Geopolitics and macroeconomics add pressure
Bitcoin is increasingly correlating with tech stocks and other risk assets. Rising oil prices, growing inflation expectations, and the likelihood of tighter Federal Reserve policy are weighing on investor sentiment and reducing demand for volatile assets. Additional pressure comes from uncertainty surrounding the Middle East conflict — markets fear that further escalation could trigger a broader risk-off move and spark another wave of crypto selling.
Market enters a phase of caution and high volatility
The technical outlook has also deteriorated. Bitcoin failed to hold above $80K, after which the market shifted into a steady downtrend. Analysts view the $70K–$75K range as a key support zone, but if ETF outflows continue and demand remains weak, pressure could increase further. At the same time, long-term institutional interest in Bitcoin persists, so some market participants see the current decline as a deep correction within a broader bullish cycle rather than a full trend reversal.
Near-term outlook
A break below the $74.2K–$74K support zone could significantly worsen Bitcoin’s outlook. However, a rebound toward these levels from current prices remains possible, with the zone now likely to act as resistance where selling pressure may re-emerge. Easing tensions in the Middle East, as mentioned in the article Bitcoin drops below $76,000 and enters correction phase, could help bring buyers back into the market.
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