Bitcoin retreats to $71K after $73K rejection as macro risks, $250M ETF outflows weigh on sentiment

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 CoinMarketCap.

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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.

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.