Crypto struggle continues amid broader market uncertainty; analysts wary

The sell-off pressure continues to mount on the cryptocurrency market, with Bitcoin and Ethereum struggling to gain any meaningful momentum amid broader financial market volatility. Both assets have extended their corrective phases, mirroring the lackluster performance in traditional markets, as a risk-off sentiment continues to grip investor outlook, analysts said.

 

Bitcoin has dipped below the $67,000 mark, facing stiff resistance around the $70,000 level. According to Riya Sehgal, research analyst at Delta Exchange, the recent price drop in Bitcoin is part of a broader market trend, largely driven by risk aversion in the financial markets. "Bitcoin’s latest drop closely tracked high-growth US tech stocks, indicating the sell-off was driven by a broader risk-off sentiment across financial markets," Sehgal said.

 

 

Meanwhile, macroeconomic dynamics continue to influence sentiment. Polymarket bettors assign a 93 per cent probability that the Federal Reserve will hold rates steady in March, with only a 7 per cent chance of a 25-basis-point cut. "In parallel, the Fed is expected to inject $16 billion into the economy this week, a move that could temporarily ease liquidity pressures but also reinforce volatility across both traditional and crypto markets," Sehgal added.

 

Vikram Subburaj, CEO of Giottus, believes that "any recalibration of rate-cut expectations could spill over into crypto. This is especially true after crypto has remained highly sensitive to shifts in bond yields and the dollar of late."

 

That said, on-chain data continues to frame the current phase as one of distribution rather than capitulation. Glassnode’s latest weekly on-chain assessment places Bitcoin well below its estimated ‘true market mean’ near $79,000. The realised price sits just under $55,000. This wide gap, Subburaj said, suggests persistent overhead supply, meaning longer-term holders are largely inactive, and shorter-term participants are driving price action within a broad $60,000-$72,000 corridor. Major analysts' desks, including CryptoQuant, echoed this view and pointed to $55,000 as the next major stress-test level.

 

Further, the flows into US-listed spot Bitcoin ETFs have offered little directional clarity. Data available up to February 17 showed a modest net inflow of about $14.8 million, indicating selective accumulation rather than a decisive risk-on shift. Complete flow data for February 18 was still awaited at the time of writing. There is, however, a sense of hesitation among institutional allocators.

Bitcoin faces resistance at $68,800–$70,000

At last check, Bitcoin was trading around $67,592, lower by 0.80 per cent, with a 24-hour trading volume of $33.25 billion. The digital asset's market capitalisation remains near $1.35 trillion, although it has slipped from its all-time high of $126,198 reached in October 2025.

 

Bitcoin’s technical charts, analysts said, reveal a descending channel, with resistance near $68,800–$70,000. "A break below $66,000 could accelerate losses toward $64,200, while sustained momentum above $68,800 may trigger a short-term recovery," said Sehgal.

 

Subburaj, on the other hand, noted that Bitcoin is trading in a consolidation band around $67,000, with the secondary demand zone at $63,000-$60,000. "Any failure to hold this range could reopen downside toward the $55,000 realised-price anchor highlighted by on-chain data. Repeated rejections near $70,000 suggest overhead supply remains intact," said Subburaj.

Ethereum struggles to hold above $2,000

As for altcoins, Ethereum's struggles are mirrored by other major cryptocurrencies. Ethereum has struggled to break above the $2,000 mark, while other top altcoins like Binance Coin (BNB) and Solana continue to trade defensively. "Overall, the market continues to signal consolidation, which is resilient enough to avoid a disorderly breakdown," Subburaj added.

 

At last check, Ethereum was trading around $1,997, with a 1.23 per cent gain. However, it has faced continuous resistance in reclaiming and holding above the $2,000 handle, with fragile support at $1,950.

 

"Ethereum continues to face key resistance around $2,060, with fragile support near $1,950," said Sehgal.

 

In light of the current market conditions, analysts suggest that investors should adopt a cautious approach. "Investors should prioritize position sizing, avoid leverage-heavy directional bets, and use staggered entries or tactical hedges to manage volatility until macro signals and ETF flows turn decisively supportive. Look for lower price points to accumulate steadily without infusing heavy capital," said Subburaj.