Bitcoin dropped below $68,500 on Friday, falling about 3.2% in 24 hours and 2.7% over the week, as renewed geopolitical headlines continued to shake investor sentiment. The decline followed the extension of a ceasefire deadline with Iran by 10 days, signaling that negotiations remain unresolved after five weeks of tension.
Market confidence briefly improved after comments suggesting talks were progressing, but sentiment quickly reversed following reports that as many as 10,000 additional ground troops could be deployed to the Middle East. Brent crude prices slipped 1.3% to $106, reflecting ongoing uncertainty across global markets. Asian equities also weakened, with regional markets declining around 0.6%.
Altcoins Slide While Tron Records Gains
Major cryptocurrencies moved lower alongside bitcoin. Ether fell 4.6% to $2,050, dropping below a key level it had defended throughout the month. Solana declined 5.3% to $85.93, while XRP lost 2.8% to $1.36, extending its weekly decline to 6.5%.
Institutional Inflows and Market Support Levels Remain Key
Despite falling prices, institutional activity showed continued interest. Bitcoin exchange-traded funds recorded approximately $2.5 billion in net inflows over the past month, offsetting earlier outflows seen since January. Net withdrawals of bitcoin from exchanges suggested ongoing accumulation by investors moving assets into private custody.
The total crypto market capitalization slipped nearly 1% to $2.4 trillion, yet remained above its 50-day moving average, which many analysts consider a supportive technical level. Attention now turns to early April, when the extended Iran deadline could become the next major trigger for market volatility.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.