March Slide: BTC and ETH Under Pressure as Market Searches for a Bottom
The week ends on a sour note for crypto investors. Bitcoin (BTC) is trading at $65,714, down 4.2% over seven days, while Ethereum (ETH) has slipped to $1,938 — a weekly loss of 6.1%. Both major assets hit their lowest levels since late January, with BTC briefly touching $64,000 mid-week before a slight bounce. Analysis: A Cocktail of Macro Tensions and Reduced Liquidity Several factors explain this correction. First, U.S. macroeconomic data cooled enthusiasm: February employment figures released Friday showed stronger-than-expected job creation (235,000 vs. 210,000 forecast), reinforcing fears that the Federal Reserve will keep rates higher for longer. The dollar rose 0.8% on the week, putting pressure on risk assets. Second, outflows from spot Bitcoin ETFs accelerated. According to CoinShares data, crypto investment products saw net withdrawals of $320 million over the week — the largest outflow since December 2025. Institutional investors appear to be taking profits after February’s rally. On the Ethereum front, weakness is amplified by the network’s relative underperformance. Transaction fees remain low (averaging $1.2), signaling moderate on-chain activity, while competition from L2s like Base and Arbitrum continues to capture attention. The ETH/BTC ratio has fallen to 0.0295, its lowest level in three years. Outlook: Watch the $64K Threshold for BTC The coming week will be crucial. BTC is currently testing support at $65,000, a key psychological level. A break below $64,000 could open the door to a drop toward $60,000, especially if macro fears persist. Conversely, a bounce above $67,000 could signal a potential recovery.
