<p>Bitcoin price marched back above $70,000 on Friday morning, erasing part of the losses seen over the past two days. However, its momentum quickly gave up as Asian tech stocks dropped lower.</p>
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 <div class="cn-block-summary__nav tabs"><span>Summary</span>
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   <li>Bitcoin rebounded above $70,000 after an 8% drop, supported by dip buying despite rising geopolitical tensions and inflation concerns.</li>
   <li>Risk sentiment weakened as Asian and U.S. tech stocks declined, reflecting broader pressure on risk assets amid strong inflation data and hawkish Fed outlook.</li>
   <li>U.S. spot Bitcoin ETFs recorded over $250 million in outflows in two days, signaling a pause in institutional demand after a week of strong inflows.</li>
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<p>After dropping over 8% to a weekly low of $69,298 on Thursday, Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) price rebounded back above the $70,000 psychological mark that many analysts say acts as a crucial anchor for investor confidence. The bellwether was trading at $70,749 at press time with a market capitalization of $1.41 trillion.</p>
<figure class="wp-block-image size-full"><img width="928" height="568" src="https://media.crypto.news/2026/03/BTCUSDT_2026-03-20_12-01-18.webp" alt="BTC/USDT daily price chart.">
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  BTC/USDT daily price chart — March 20 | Source: <a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">crypto.news</a>
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<p>Bitcoin price rallied as bulls bought the dip under $70,000, which occurred after news of an Israeli attack on Iranian energy sources broke out, sparking fears of rampant global inflation as oil prices rose to record highs.&nbsp;</p>
<p>At the same time, risk sentiment deteriorated amid a string of weak economic data. This coincided with stronger-than-expected PPI data and Federal Reserve Chair Jerome Powell suggesting the central bank intends to hold interest rates steady as long as inflation remains elevated.</p>
<p>You might also like: <a href="https://crypto.news/max-pain-at-75k-but-596m-in-20k-bitcoin-puts-expose-markets-fear/" rel="noopener noreferrer nofollow"> Max pain at $75k but $596m in $20k Bitcoin puts expose market’s fear </a></p>
<h1 class="wp-block-heading" id="what-is-holding-bitcoin-price-back-today">What is holding Bitcoin price back today?</h1>
<p>While Bitcoin has managed to reclaim the $70,000 psychological support level, several hurdles could potentially stand in its path for more gains.</p>
<p>First, Asian tech stocks have so far traded down on Friday morning. Notably, Japan’s Nikkei 225 fell by 1,866 points or 3.38%, while China’s Shanghai Composite was down 0.50%. Yesterday, U.S. tech stock markets also showed the same weakness, with the Dow Jones Industrial Average closing lower by 0.44%, while the S&amp;P 500 and Nasdaq 100 were down over 0.25% each. The only exception was the Russell 2000 Index, which rose by 0.65%.&nbsp;</p>
<p>Cryptocurrencies often mirror the trend followed by these tech stocks, as they both share a high sensitivity to liquidity and interest rate expectations.</p>
<p>Second, investors seem to be rotating to Gold, which jumped over 2% today as it moved back above $4,700, reinforcing its status as a safe-haven asset amid the broader macroeconomic and geopolitical uncertainty. Silver also saw significant interest, rising over 3% to $74.</p>
<p>Third, institutional demand in Bitcoin appears to have taken a breather. <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">Data</a> from SoSoValue show that U.S. spot Bitcoin ETFs have recorded net outflows for the past two days, with over $250 million flowing out.</p>
<p>While the outflows are relatively small considering the $1.16 billion in inflows they <a href="https://crypto.news/bitcoin-etfs-log-longest-inflow-run-since-october-as-institutional-demand-returns/" rel="noopener noreferrer nofollow">recorded</a> over seven straight days just ahead of this shift, investors could take this as a sign of temporary exhaustion in the current rally.</p>
<p>Read more: <a href="https://crypto.news/btq-deploys-first-working-bip-360-implementation-on-bitcoin-quantum-testnet/" rel="noopener noreferrer nofollow"> BTQ deploys first working BIP 360 implementation on Bitcoin Quantum Testnet </a></p>
<p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>

Bitcoin price stalls at $70,000 as Asian tech stocks dip

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