Bitcoin retreats to $71K after $73K rejection as macro risks, $250M ETF outflows weigh on sentiment
Synopsis
Bitcoin trades near $71,000 on Friday. Macroeconomic uncertainty and geopolitical risks are capping its momentum. Recent ETF outflows have also impacted buying pressure. Analysts watch the CPI release for potential price movements. Market sentiment has improved to neutral, suggesting a continued upswing. Retail interest remains strong, with significant accumulation observed.
Bitcoin hovered near the $71,000 mark on Friday after facing resistance around the $73,000 mark, as macroeconomic uncertainty and geopolitical risks capped its recent momentum and kept price action range-bound. The cryptocurrency was last trading at $71,922.
Over the past 24 hours, Bitcoin rose 1.78%, while Ethereum gained 0.79% to trade at $2,195. Among major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid, and Cardano advanced up to 5.50%.
The global crypto market capitalisation rose 1.1% to $2.44 trillion, according to .
Crypto TrackerTOP COINS (₹) Bitcoin6,666,033 (1.46%)XRP125 (0.95%)Ethereum202,927 (0.53%)BNB55,686 (0.28%)Tether93 (-0.11%)Also Read | Parag Parikh Flexi Cap Fund raises stakes in TCS, ITC and 14 other stocks in March
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View Details »Akshat Siddhant, Lead quant analyst, Mudrex, said the recent ETF outflows of over $250 million across the past two sessions have also weighed on buying pressure. While PCE remains the Fed’s preferred inflation gauge, market attention is firmly on today’s CPI release.
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A softer reading could support a breakout above $73,000 and push BTC toward $76,000, Siddhant further said.
Over the past week, Ethereum and Bitcoin were up 6.79% and 8.18%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid, and Cardano gained upto 14.52%.
The market sentiments have improved from bearish to neutral, hinting at a continued upswing, said CoinDCX Research Team.
Vikram Subburaj, CEO of Giottus, said BTC is trading near the top of its recent range and is trying to gain strength after a period of consolidation.
Subburaj further said that on-chain signals remain constructive but not euphoric. Accumulation trends and exchange outflows indicate that coins continue to move into long-term holding wallets.
Market perspective
CoinSwitch Markets Desk: Recent gains were driven by easing macro tensions and a short squeeze, but momentum has slowed as uncertainty returns. Retail interest remains strong, with significant accumulation seen over the past week, showing continued confidence despite volatility.
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Riya Sehgal, Research Analyst, Delta Exchange: The move reflects a shift toward fresh risk-on positioning, with derivatives data indicating new long exposure building. This suggests stronger directional conviction, especially as both Bitcoin and Ethereum sustain above key short-term support levels.
WazirX Market’s Desk: On-chain data showed OG whales sold roughly $271 million in BTC last week. This was the largest weekly outflow from this group since January 10. In January, similar selling preceded a 13% price drop. Current market data indicates stronger buyer absorption, which may help Bitcoin remain in the $70,000 to $72,000 range.
