Bitcoin Price Slides to Two-Week Low as Liquidations Top $300 Million and Macro Pressure Builds
Bitcoin dropped below $66,500 due to massive long liquidations and escalating geopolitical and macroeconomic stress.Summary
Bitcoin's price fell below $66,500, reaching a two-week low, driven by nearly $300 million in long position liquidations, indicating an unwind of crowded bullish bets in crypto futures. This selloff coincided with broader risk-off sentiment globally, fueled by escalating geopolitical tensions involving Iran, which pushed oil prices higher and renewed inflation concerns.
Despite the recent drop, Bitcoin remains within a multi-week range between $60,000 and $75,000, well below its all-time high. Institutional flows present a mixed signal: while spot Bitcoin ETFs saw inflows earlier in March, recent sessions showed net outflows, though on-chain data suggests long-term holders are still accumulating via self-custody.
Market dynamics are further complicated by a significant options expiry worth roughly $14 billion, which has temporarily subdued volatility. As this derivatives positioning fades, Bitcoin may become more susceptible to external catalysts, suggesting future price movements could be more reactive amid elevated geopolitical risks and tightening macro conditions.
(Source：Bitcoin Magazine)