Bitcoin price toppled slightly on Thursday, holding tight at the $78K mark as inflows in BTC ETFs helped stabilise trading. Contrary to Bitcoin’s steady trading, altcoins witnessed a bloodbath with major industry heavyweights falling
A mix of global and policy uncertainty is keeping investors on edge. The ongoing tensions between the United States and Iran have pushed Brent Crude prices above $104 a barrel, fueling worries about inflation and higher energy costs. At the same time, questions around leadership at the Federal Reserve and delays in passing the U.S. CLARITY Act are adding to the uncertainty, making investors more cautious about taking big risks in the market.
Analysts pooled by CoinHeadlines say that market focus has shifted from geopolitics itself to event-triggered liquidity dynamics.
Dean Chen from Bitunix explained, “Following renewed ceasefire signals, BTC surged rapidly, briefly approaching the $80,000 level, accompanied by approximately $339 million in short liquidations. The structure of the move clearly reflects a liquidation-driven expansion, rather than organic demand, price was pushed higher by forced positioning unwind, not active capital inflow.”
Chen adds, “From a macro standpoint, U.S.-Iran negotiations remain in a “window open, consensus absent” phase. Internal fragmentation within Iran and the persistence of energy-related restrictions indicate that systemic risk has not been meaningfully resolved. This explains why, after tapping into high-level liquidity, price failed to transition into sustained continuation and instead reverted back into range-bound behavior.”
The total crypto market capitalization also fell over 1.3 percent to $2.6 trillion, showing a slump in investor confidence.
Bitcoin is staying relatively stable, trading around $77,876 with a modest gain of about 0.44 percent. A big reason for that support is steady money flowing in from institutional investors through spot ETFs.
Over the past six days alone, the funds have attracted more than $1.5 billion, showing continued confidence despite broader market uncertainty. Leading the pack is iShares Bitcoin Trust (IBIT), which now holds roughly 806,700 BTC worth about $63.7 billion. Its growing size reflects how traditional investors are playing a larger role in keeping Bitcoin prices resilient.
Bitunix analysts add, “Structurally, BTC is currently interacting with a well-defined liquidity framework. The $78,000–$80,000 zone represents a dense cluster of overhead liquidity and liquidation triggers, while the $73,000–$75,000 range continues to function as a consistent absorption band. Repeated sharp moves through key levels followed by rejections reinforce the interpretation that liquidity is being harvested, rather than a directional trend being established.”
Contrary to Bitcoin’s bullish sentiments, the altcoin bloodbath has given a tough time to investors. Ethereum has slipped about 2.5 percent, and the broader altcoin market is showing signs of hesitation, with buyers staying on the sidelines for now.
Other major tokens are also under pressure, with XRP and Solana being the biggest losers from the heavyweight bag. XRP has fallen around 1.81 percent to $1.41, while Solana is down roughly 1.45 percent to $85.84. The moves suggest that, even as Bitcoin remains relatively stable, confidence in altcoins is still fragile in the short term.
Looking further ahead, there is a more supportive factor in play. Staking continues to lock up a large share of Ether, meaning fewer coins are available for trading, which can help strengthen prices over time. In the near term, however, the key level to watch is $2,400. If Ethereum can climb back above that mark, it would signal renewed momentum; if not, prices may continue moving sideways within a narrow range for a while.
Analysts further suggest that in aggregate, as long as policy signals and geopolitical risks remain unanchored, the crypto market continues to operate under an “event → liquidation → reversion” cycle. BTC, in this phase, is not a leading indicator of trend formation, but a lagging function of risk appetite, reflecting whether capital is willing to engage, rather than driving the engagement itself.
In the last 24 hours, 99,838 traders were liquidated, totalling $236.53 million. The biggest single liquidation order occurred on Binance – BTCUSDT for $7.51 million.