Bitcoin steadies below $70,000 as ETF outflows lift altcoins

Why Bitcoin is stalled below $70,000 right now

Bitcoin’s latest attempt to reclaim $70,000 faded quickly after a brief push toward the round number. As reported by Meyka, the move coincided with roughly $468 million in crypto short liquidations as price eased back to about $68,100, underscoring how forced covering alone has not unlocked a durable breakout.

Traders describe a consolidation phase after repeated tests of overhead resistance. With catalysts still developing, the market is waiting for clearer signals before committing to a fresh trend.

Spot ETF outflows (IBIT) and macro headwinds cap BTC momentum

Based on data compiled by MarketWatch, U.S. spot Bitcoin ETFs, including the iShares Bitcoin Trust (IBIT), have recorded around $2.6 billion in net outflows since the start of 2026, a sharp reversal from the heavy inflows seen a year earlier. When primary demand softens, spot liquidity thins at the margin, making it harder for price to absorb supply near resistance.

Macro conditions are also unsupportive, with rate uncertainty and a firm dollar weighing on risk assets; Wintermute has described a broader regime shift driven by an “AI rerate” and deglobalization pressures, arguing that Bitcoin has recently behaved more like a growth asset than a defensive store of value.

Analysts caution that rebounds have lacked follow‑through amid this backdrop. “No rush to pick up coins on the cheap” without stronger momentum, said Chris Beauchamp, chief market analyst at IG.

DOT reward cut, UNI governance vote fuel altcoin surge

With Bitcoin capped below $70,000, capital rotated into select altcoins featuring clear, time‑bound catalysts. As reported by CoinDesk, Polkadot (DOT) jumped about 21% ahead of a scheduled 50% reward cut in March, while Uniswap’s UNI climbed roughly 15% following a governance vote.

Technical confirmation helped. According to FXStreet analysis, DOT pushed above its 50‑day EMA while testing resistance near $1.75, and UNI broke a descending trendline with immediate resistance noted around $4.18, classic breakout patterns that can attract systematic flows when volume expands.

Key BTC levels, rotation risks, and what could change trend

According to BecauseBitcoin’s market review, BTC continues to trade defensively inside a broad $60,000–$72,000 range, with persistent supply around $70,000–$72,000 and relatively shallow spot demand constraining upside. Range integrity remains the focal point for short‑term direction.

Rotation into catalysts like DOT and UNI can fade if Bitcoin retakes the top of its band or if spot ETF flows inflect back to net inflows; conversely, a clean break of range support could prompt de‑risking across higher‑beta assets. A sustained close above resistance alongside improving ETF demand would be among the clearer signals of a trend change, whereas deterioration in macro risk appetite would argue for patience.

At the time of this writing, Bitcoin held above $68,000 while DOT and UNI continued to outperform on the day, as reported by GNcrypto. These figures are provided for context only and may change rapidly in volatile conditions.