The cryptocurrency market, which had appeared to begin a rebound, is once again showing signs of “running out of fuel,” raising doubts about the sustainability of the rally.
According to investment-focused media outlet FXStreet on March 30 (local time), Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) showed upward momentum earlier this week, but there appears to be a lack of fresh capital inflows to drive further gains. On the day, Bitcoin rose about 2%, while Ethereum and Solana gained more than 3%. XRP, however, underperformed with a modest 1.5% increase.
The biggest concern is weakening institutional demand. According to SoSoValue, U.S. spot Bitcoin ETFs recorded net outflows of $296.18 million last week, breaking a four-week streak of inflows. Spot Ethereum ETFs also saw more than $200 million withdrawn, reflecting dampened institutional investor sentiment.
Stablecoin flows are also negative. Tether (USDT), a key market liquidity indicator, has seen its market capitalization stall at around $184 billion, while USD Coin (USDC) declined about 1.5% to roughly $77.77 billion. The $1.1 billion reduction in the stablecoin market over the past week is interpreted as another sign of slowing capital inflows.
From a technical perspective, downside risks remain. Peter Brandt noted that Bitcoin’s current price action resembles a classic bearish pattern and suggested the possibility of a drop to $49,000. In the options market, strong preference for put options across maturities indicates that investors continue to bet on further declines.
There are still variables at play. Analysts suggest that if a U.S.-led ceasefire related to the Iran conflict becomes a reality, investor sentiment could improve sharply and trigger a rebound. However, for a full-fledged upward reversal, Bitcoin would need to establish firm support at least above the $75,000 level.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.* 
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