2026

Bitcoin

Reserve

would

<p>Following a three-day streak above $70K, Bitcoin (BTC) has fallen below this resistance level, trading at $68,131 (down 3.96% in 24) at the time of writing.</p>
<p>Blockchain analytics firm CryptoQuant shows that Bitcoin selling pressure among short-term holders (STHs), or people who hold BTC for less than 155 days, has recently spiked.&nbsp;</p>
<p>In the last 24h, panic-led STHs have sold over 27,000 BTC for profit on exchanges. This marked the highest level observed in recent months, signaling an upcoming capitulation phase.</p>
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   <p>STH Selling Pressure Emerges Despite BTC Recovery<br><br>“Over the past 24 hours, STHs have sent more than 27,000 BTC in profit to exchanges, which ranks among the highest levels observed in recent months.” – By <a href="https://twitter.com/Darkfost_Coc?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Darkfost_Coc</a><a href="https://t.co/0gsKZM6LT3" rel="noopener noreferrer nofollow">pic.twitter.com/0gsKZM6LT3</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/2029906680868163799?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 6, 2026</a>
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<p>Another crypto analyst noted that Bitcoin formed a new death cross on March 3. On this day, the 50-day simple moving average crossed below the 200-day average, signaling bearish momentum.</p>
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   <p>It's happening! <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a><a href="https://t.co/9vGw5OebLw" rel="noopener noreferrer nofollow">https://t.co/9vGw5OebLw</a><a href="https://t.co/qhqvnAOanL" rel="noopener noreferrer nofollow">pic.twitter.com/qhqvnAOanL</a></p>— Ali Charts (@alicharts) <a href="https://twitter.com/alicharts/status/2027444117354254717?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 27, 2026</a>
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<h2 class="wp-block-heading" id="h-is-bitcoin-entering-a-capitulation-period">Is Bitcoin entering a capitulation period?</h2>
<p>The death cross has historically signalled an upcoming capitulation phase, followed by a bottoming-out phase. Crypto markets fell an average of 52%, 50%, and 46% following death crosses in 2014, 2018, and 2022, respectively.</p>
<p>CryptoQuant shows a Bitcoin Exchange Whale Ratio (EWR) of 0.54, suggesting whales are increasingly moving their crypto assets to exchanges.</p>
<figure class="wp-block-image size-large"><img width="1024" height="576" src="https://image.coinpedia.org/wp-content/uploads/2026/03/07034443/Bitcoin-Exchange-Whale-Ratio-All-Exchanges-1024x576.webp" alt="Bitcoin Exchange Whale Ratio">
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<p>Source: <a href="https://cryptoquant.com/asset/btc/chart/flow-indicator/exchange-whale-ratio?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line" rel="noopener noreferrer nofollow">CryptoQuant</a></p>
<p>Additional metrics supporting the bearish case include Bitcoin’s open interest dropping by 3.94% in the past day to $45.13 billion, while liquidations <a href="https://www.coinglass.com/" rel="noopener noreferrer nofollow">mounted</a> to $159.29 million.&nbsp;</p>
<p>Just yesterday, Bitcoin spot ETF outflows <a href="https://coinpedia.org/crypto-live-news/bitcoin-and-ethereum-etfs-see-320m-in-one-day-outflows/" rel="noopener noreferrer nofollow">reac</a>hed $228 million, reversing a 3-day inflow streak. BlackRock, the largest issuer of crypto ETFs globally, has placed a 5% quarterly cap on withdrawals, seemingly overwhelmed after surging withdrawal requests. Institutional crypto lender BlockFills is preparing for “restructuring” due to a liquidity crisis brought on by $75 million in losses in early 2025.</p>
<p>Rising oil prices amid the prevailing US-Iran war, inflationary fears, and <a href="https://coinpedia.org/news/bitcoin-just-dropped-5-why-crypto-market-is-down-today/" rel="noopener noreferrer nofollow">heightened unemployment</a> rates have also triggered de-risking among investors.</p>
<h2 class="wp-block-heading" id="what-next">What Next?</h2>
<p>Technically, Bitcoin could consolidate between $68-$70K if it holds above the $67,757 swing low. Failure to attain this would risk a test of $65K.</p>
<p>The community also awaits broader market price reactions to the March 18 US Federal Reserve policy announcement.</p>

Bitcoin Falls Below $70K as Short-Term Sell Pressure Mounts, Is Capitulation Imminent?

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