Bitcoin Slips to $65K as Weekend Sell-Off Hits Altcoins Hard
Bitcoin prices retreated sharply over the weekend, sliding close to $65,000 after failing to sustain a brief rally toward the $70,000 mark earlier in the week. Weak risk sentiment in U.S. equity markets spilled over into digital assets, triggering a broad sell-off across major cryptocurrencies.
The pullback erased much of Wednesday’s gains as macro pressure intensified following hotter-than-expected U.S. producer price data and a renewed decline in tech stocks, including Nvidia.
Altcoins Underperform Bitcoin
Losses were deeper across alternative tokens.
- Solana fell nearly 7%
- Ethereum dropped over 6%
- Dogecoin slid about 5%
- XRP declined roughly 4%
The move wiped out recent altcoin outperformance, pushing most major tokens into negative territory on a weekly basis. BNB proved relatively resilient, posting smaller losses compared to peers.
Equity Weakness Triggers Crypto Volatility
U.S. markets ended Friday on a softer note, with the S&P 500, Nasdaq 100, and Dow Jones all closing lower. The equity downturn amplified risk aversion, prompting leveraged crypto positions built during midweek rallies to unwind quickly.
ETF Inflows Fail to Offset Macro Pressure
Despite strong institutional demand — U.S. spot bitcoin ETFs recorded inflows exceeding $1 billion in just three days — broader macro concerns continued to dominate price action.
Adding to caution, data from CryptoQuant shows stablecoin (USDT) reserves on exchanges have declined significantly in recent months, raising fears of reduced buying power if reserves fall further.
Range-Bound Market Ahead of March
Bitcoin now finds itself back in the middle of its $60,000–$70,000 trading range, where it has consolidated since early February. With resistance near $70K firmly intact, market participants are watching closely to see whether key support levels can hold as March approaches.
