Bitcoin Holds Near $66,000 As Ethereum, XRP, Dogecoin Trade Flat On Weak Institutional Demand

Bitcoin traded relatively flat near $66,000 as market sentiment remained cautious, weighed down by persistent fear and continued outflows from spot Bitcoin exchange-traded funds (ETFs).

Notable Statistics:

• Coinglass data shows 100,975 traders were liquidated in the past 24 hours for $432.91 million.       
• SoSoValue data shows net outflows of $225.5 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $48.5 million.
• In the past 24 hours, top losers include Midnight, Hyperliquid and Bittensor.

Notable Developments:

• Tom Lee Buys More Than 71K ETH, Calls Crypto ‘Good Wartime Store Of Value’
• Is Bitcoin Entering Final Accumulation Window Of This Cycle?
• Ripple CEO Brad Garlinghouse Warns Against Another ‘Gary Gensler Moment’
• Bitcoin ETFs See Heaviest Single-Day Bleed Of The Week With $225M Exodus
• Tom Lee Predicted Crypto Winter Will End By April—This Analyst Says ‘April 2027 More Likely’

Trader Notes:

Trader Michael van de Poppe said that despite a modest short-term bounce, Bitcoin’s broader trajectory remains downward. He described the potential dip as the final phase of the bear market and suggested it could present an opportunity to accumulate or add to positions.

Crypto trader Jelle noted that Bitcoin is testing a bearish flag pattern on the daily chart from below. He said such a pattern typically signals continuation of a downtrend, meaning a failure to break above it could lead to further downside.

Trader Luca offered a more bullish outlook, pointing to what he described as a seven-year long-term support level. He said this zone has historically marked major market bottoms and could represent a strong accumulation area, potentially forming a macro bottom if historical patterns repeat.

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