Bitcoin’s (BTC) struggle to hold key price levels is raising fresh concerns across crypto markets, even as spot exchange-traded funds continue to control tens of billions of dollars in assets.

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The largest cryptocurrency has fallen back below the psychologically important $70,000 mark, trading around $68,000 after weeks of steady selling pressure and weakening momentum.

While institutional products still hold significant capital, analysts say the market structure shows growing downside risk rather than stability, with technical patterns, whale activity, and macroeconomic uncertainty all pointing to a fragile outlook.

BTC's price trends to the downside on the daily chart. Source: BTCUSD on Tradingview

Bearish Chart Signals and Whale Activity Intensify Pressure

Technical indicators suggest the correction may not be finished. Market analysts highlight a developing “bear pennant” formation, a pattern that typically appears after sharp declines and often precedes another leg lower.

A confirmed breakdown could push Bitcoin toward the $55,000–$60,000 range, representing roughly a 20% decline from current levels.

On-chain data from CryptoQuant shows rising inflows into exchanges from large holders. The ratio tracking major transactions moving onto trading platforms recently reached elevated levels, historically associated with increased sell-side pressure. Analysts interpret this as preparation for distribution rather than accumulation.

Additional data suggests the market has entered a “stress phase,” with losses mounting among newer investors while long-term holders remain profitable. Similar setups in past cycles often preceded extended consolidation or deeper corrections before recovery.

Bitcoin ETFs Remain Large, But Not Necessarily Bullish

Despite price weakness, U.S. spot Bitcoin ETFs still hold about $85 billion in assets, equivalent to more than 6% of the circulating supply. However, analysts caution that ETF resilience may not reflect strong bullish conviction.

Research indicates a large portion of ETF ownership is dominated by market makers and arbitrage funds maintaining hedged positions rather than directional bets. Funds linked to asset managers such as BlackRock continue to see activity, but flows have recently turned negative, marking several consecutive weeks of net outflows.

Institutional positioning is also shifting elsewhere. Filings show Harvard University reduced part of its Bitcoin ETF exposure late last year, highlighting a more cautious stance among some large investors.

Macro Uncertainty And Sentiment Keep Markets On Edge

Broader financial conditions are adding to pressure. Bitcoin has remained closely correlated with technology stocks and risk assets, both of which have reacted to expectations of prolonged higher interest rates. Upcoming Federal Reserve signals and economic data releases are likely to shape the short-term direction.

Sentiment indicators tracked by Matrixport show extreme fear dominating markets, a condition that sometimes precedes rebounds but can also accompany late-stage corrections.

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Meanwhile, corporate holders such as Strategy Inc continue accumulating Bitcoin despite volatility, underscoring a divide between long-term institutional conviction and short-term market weakness.

Cover image from  ChatGPT, BTCUSD chart on Tradingview

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Ethereum’s (ETH) latest downturn below $2,000 is no longer confined to price charts alone. Capital flows, on-chain data, and technical structure are now aligning with the bearish momentum, supporting concerns that the selloff may have further room to run.

Related Reading: Bitcoin Price May Slide Toward $50,000 By March-April, Top Analyst Warns

As ETH breaks below key support zones, fresh ETF outflows and shifting investor behavior are adding pressure at a time when confidence already looks fragile.

ETH's price trends to the downside on the daily chart. Source: ETHUSD on Tradingview

ETF Outflows Signal Waning Institutional Appetite

Ethereum spot ETFs recorded a net outflow of $80.79 million on February 5, according to SoSoValue data.

Fidelity’s FETH accounted for the bulk of the move, with $55.78 million leaving the fund in a single session. While FETH still holds a cumulative historical inflow of $2.51 billion, the sharp daily withdrawal highlights renewed caution among investors.

Not all products saw exits. Grayscale’s Ethereum Mini Trust (ETH) posted the largest daily inflow at $7.05 million, followed by Invesco’s QETH with $3.53 million. However, these gains were not enough to offset broader selling.

Total Ethereum spot ETF assets now stand at $10.9 billion, representing about 4.83% of ETH’s market capitalization. The uneven flow picture suggests selective positioning rather than broad-based accumulation.

Ethereum Price Structure Weakens as Support Levels Give Way

Ethereum’s price action has continued to trend lower, with ETH recently trading below the $2,000 range after briefly dipping to $1,750 earlier this week. Analysts tracking higher time frames note that the bearish market structure remains intact, with no confirmed bullish shift on the four-hour chart.

Former support around $2,125 has now turned into resistance, while traders are watching liquidity zones near $2,200 and $2,300 for potential reactions. A sustained reclaim above $2,345 is widely viewed as the minimum requirement to signal a trend change.

Until then, rallies are being treated as corrective moves within a broader downtrend.

On-Chain Signals and Developer Concerns Add Context

On-chain data shows a clear divergence between investor cohorts. Mid-sized holders have reduced exposure during the decline, while large wallets have increased their holdings, suggesting accumulation by long-term players amid weakness.

At the same time, exchange inflows, particularly on Binance, have risen to levels last seen in 2022, often associated with distribution or repositioning.

Beyond price, Ethereum’s co-founder Vitalik Buterin has recently criticized the lack of innovation among copycat EVM chains, arguing that scaling progress risks stagnation without deeper technical differentiation.

While these comments are not directly market-related, they support broader concerns about direction and execution within the ecosystem.

Cover image from ChatGPT, ETHUSD chart on Tradingview

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As the market erases its 2026 gains, Bitcoin (BTC) has fallen to its lowest level in weeks and is attempting to reclaim a crucial level. Some market observers have warned that a retest of the November lows is likely if volatility continues.

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Bitcoin Breaks Down From Key Support

On Wednesday, Bitcoin continued to pullback and hit a three-week low of $87,263. The cryptocurrency had been trading between the $90,000-$96,000 range since its start-of-the-year breakout, reaching a two-month high of $97,924 a week ago.

However, the crypto market has experienced significant volatility over the past few days, fueled by renewed geopolitical tensions. As a result, BTC has retraced 10% in the past week, falling to the mid-zone of its $84,000-$94,000 range.

Amid this performance, trader Wealthmanager noted that the flagship crypto had retraced all its 2026 gains, briefly falling below its yearly opening and POC. He added that this is a critical level to hold in the coming days, as losing this area could send the price back to the $80,000 mark.

Analyst Crypto Jelle highlighted a two-month bear flag structure on BTC’s daily chart, suggesting a high chance of a breakdown. “Lose the current lows again, and bears will be fully back in the driver’s seat,” he asserted.

Similarly, Market observer Lyvo Crypto pointed out the same formation, detailing that Bitcoin broke down from the pattern’s ascending support after the recent price action and lost its two-month uptrend.

To the trader, this signals that “momentum is fully in the bears’ control” and “if it [bearish momentum] sustains, we could see a free fall” that could likely result in a retest of the $78,000 area.

In the case of a breakdown to the November lows, he advised that “from there, we’ll wait for confirmation of a double bottom and look for a relief rally.”

BTC To Repeat Its 2020 Price Action?

Crypto Bullet drew a parallel between BTC’s current price action and its performance in early 2022. The analyst affirmed that the current price action closely mirrors its 2022 fractal, which could signal that a major correction is ahead.

At the time, Bitcoin retraced over 40% from its late 2021 cycle top, followed by a “dead cat bounce” at the start of 2022 and a second major correction toward new lows.

Now, the flagship crypto displays a similar performance as it has retraced 30% from the October highs and is currently attempting to reclaim the lost ground. However, Crypto Bullet noted that there are two significant differences from its 2022 correction.

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First, Bitcoin has yet to retest the 50-week and 200-week Moving Averages (MAs). Second, the timing hints that the final breakdown is not due until later in Q1.

“If we match the 2022 fractal’s top and the October 2025 top, we’ll see there’s still about 1 month of PA to make that final leg up and test the 50-Week MA or the 200-Day MA,” he explained.

He concluded that one more pump above the $100,000 is likely, but advised caution as the key supports are being tested.

As of this writing, Bitcoin is trading at $89,890, a 1.2% increase in the daily timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com