This week, the crypto market presented a contrasting picture. Bitcoin (BTC) held around $68,717, showing relative stability after a slight weekly gain. In contrast, Ethereum (ETH) struggled at $1,964, down nearly 3% over seven days. The performance gap between the two leaders widened, signaling a general lack of conviction on altcoins.
Analysis: Macro and Capital Flows
Several factors explain this hesitant climate. First, the macroeconomic context remains tense. The latest US inflation data, published Wednesday, showed a slight increase in consumer prices, reviving fears of prolonged high interest rates from the Fed. Traditional markets responded with increased caution, and crypto was no exception.
Second, capital flows into spot Bitcoin ETFs, though positive, slowed compared to previous weeks. Institutional investors appear to be adopting a “wait and see” approach ahead of the next Fed meeting in March. On the Ethereum side, the migration to staking and Layer 2 solutions continues, but the price remains under pressure, held back by still-elevated circulating supply and weaker speculative demand than BTC.
Finally, Bitcoin dominance (BTC.D) climbed to nearly 55%, a level not seen in months. This confirms that capital is concentrating on the flagship asset at the expense of altcoins, including Ethereum.
Outlook
In the short term, Bitcoin appears well-anchored above $67,000, with resistance at $70,000. ETH needs to reclaim $2,000 to avoid further...
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