Bitcoin (BTC) opened the week near $66,000 before climbing to $68,000 following significant political developments. President Donald Trump stated the U.S. was in serious discussions with a new Iranian regime on Truth Social. The remarks temporarily lifted risk sentiment despite broader market headwinds facing the digital asset class.
Ether (ETH) also gained close to 4% to trade over $2,050 during intraday hours on Monday. The Block’s price page shows the asset briefly dipped toward $64,000 during thin weekend trading sessions. This pattern of late-week weakness followed by tentative rebounds has persisted through the current month.
ETF Flows
Institutional capital retreated for the first time in four weeks during this specific period. Bitcoin spot ETFs recorded $296 million in net outflows between March 23 and 28. Ethereum ETFs saw $206.58 million in outflows over the same timeframe.
QCP Capital noted that bitcoin has continued to hold a $65,000 to $70,000 band despite persistent macro pressure. The firm warned that upside momentum may remain limited after last week’s post-options expiry sell-off. Markets approach an April 6 deadline tied to a U.S. pause on strikes.
Market Sentiment
Timothy Misir, head of research at BRN, described the current setup as finely balanced. He noted that bitcoin is entering the new week on a knife-edge as macro forces collide. He added that positioning is cleaner than sentiment, but conviction is still thin.
"The near-term setup is fragile," Misir said.
Oil remains elevated while the Strait of Hormuz stays central to risk pricing. Upcoming U.S. data, including JOLTS and Friday’s jobs report, could reset expectations for rates. Analysts at Laser Digital said markets are still reactive to headline swings from the Middle East.
Martin Gaspar, senior crypto market strategist at FalconX, noted that spot ETF flows earlier in March totaled roughly $1.5 billion. He added that recent price stability relative to equities and metals could reflect seller exhaustion. Investors are stepping back, watching macro signals as uncertainty persists.
Future Outlook
Unless there is a clear picture of an off-ramp, it will be hard to find any meaningful movement, the desk wrote. Investors are not chasing crypto higher as they lean into yield. The broader shift in positioning is clear across multiple analyst desks.
