Bulls Defend $67K As Macro Pressure Offsets $787M ETF Inflows
The post Bulls Defend $67K As Macro Pressure Offsets $787M ETF Inflows appeared on BitcoinEthereumNews.com.
Bitcoin defends $67,000 support after $74,000 rejection as macro forces override bullish institutional developments. $787M in weekly ETF inflows mark first positive week since mid-January, while 27,000 BTC ($1.8B) sold by short-term holders. Supertrend at $61,089 provides support as dollar strength and Iran tensions drive crypto correlation with Nasdaq risk-off moves. Bitcoin price today trades near $67,795, down 0.46% after rejecting the $74,000 level earlier this week despite a string of bullish institutional developments. The move demonstrates that macro forces now override crypto-native news as Bitcoin’s correlation with traditional risk assets tightens. Daily Chart Shows $74,000 Rejection And Support Test The daily chart shows Bitcoin briefly pushing toward $74,000 before sellers rejected the move and pushed price back below $69,000. The rejection cost Bitcoin $110 billion in market cap as short-term holders took profits. The Supertrend at $61,089 sits below current price, providing major support. The Parabolic SAR at $63,214 offers additional dynamic support above the Supertrend. A descending trendline (red line) from November 2025 highs near $130,000 continues to cap rallies. Key levels: Immediate support: $67,000 to $65,000 (orange shaded area) Supertrend support: $61,089 Parabolic SAR: $63,214 Resistance: $74,000 rejection zone The $60,000 to $70,000 range (orange shaded area) has acted as a consolidation zone since the February spike low, with price attempting to break higher but failing to sustain momentum. Institutional Progress Fails To Sustain Rally Bitcoin experienced one of the most positive stretches of institutional news in months, yet the market ignored these developments. Morgan Stanley named Bank of New York Mellon as custodian for its spot bitcoin ETF exposure, adding Wall Street infrastructure. Kraken gained Federal Reserve payment system access, integrating crypto firms with U.S. banking networks. Intercontinental Exchange, owner of the New York Stock Exchange, invested in crypto exchange OKX at a $25 billion valuation.…
Filed under: News - @ March 7, 2026 1:16 pm