Bitcoin Hovers Near $67 K as Crypto Markets Consolidate
The leading cryptocurrency stabilises just below its recent peak while the broader market retreats modestly. Analysts point to thin liquidity and profit‑taking as the main forces shaping price action.
Market snapshot
- Total crypto market cap fell about 2 % in the last 24 hours, settling around $2.39 trillion.
- Bitcoin (BTC) traded just under $67,000, down roughly 2 % on the day but still up 1 % for the week, trailing Wednesday’s high.
- Ethereum (ETH) slipped to $1,992, registering a 3 % daily decline.
- Other top‑ten assets also slipped: Solana (SOL) – 3.5 %; XRP – 5 %; BNB – 1.5 %.
The price movement comes after a brief rally that saw Bitcoin briefly touch the $70 k barrier earlier in the week.
Liquidity pressure and profit‑taking
On X, on‑chain analytics firm Glassnode highlighted that the recent dip is consistent with a “constructive return of liquidity” regime. The firm’s realized profit‑to‑loss ratio for BTC has slipped below the 1.0 threshold—a level that, historically, remains under pressure for six months or more before a durable rebound emerges. In a market with relatively thin order books, even modest profit‑taking can blunt recovery attempts once the price hovers near major psychological levels such as $70 k.
Commentary from the floor
Paul Howard, senior director of the crypto trading house Wincent, told The Defiant that the bounce in Bitcoin was partially fueled by an unexpected strength in traditional tech earnings. “A short squeeze on Circle, heavy short exposure in MicroStrategy, and Nvidia’s earnings beat all added to the upward pressure on Bitcoin over the last day,” he said. Nevertheless, Howard stressed that the market continues to search for a decisive catalyst that could lift crypto assets beyond a hedge‑style positioning.
Movers in the top‑100
Among the 100 largest cryptocurrencies by market cap, Pippin (PIPPIN) led the weekly gain chart with an 18.4 % surge, followed by Internet Computer (ICP) up 8.5 %. On the downside, Cosmos Hub (ATOM) fell 7.9 % and Morpho (MORPHO) dropped 3.6 %.
Liquidations and trader activity
Data from CoinGlass show that more than 157,000 traders were liquidated in the past 24 hours, wiping out roughly $560 million in positions. Short positions dominated the wave, accounting for about $420 million of the total, while longs absorbed the remaining $148 million.
Institutional inflows
- Spot Bitcoin ETFs recorded a net inflow of $506 million on February 25, the largest single‑day injection since early January, pushing total assets under management to $87.6 billion.
- Spot Ethereum ETFs attracted $157 million, raising their cumulative AUM to $11.8 billion.
These numbers indicate continued investor interest in regulated crypto exposure, even as spot prices hover in a narrow range.
Macro backdrop
U.S. Treasury yields were largely unchanged on Thursday:
| Yield | Rate |
|---|---|
| 10‑year note | 4.042 % |
| 30‑year bond | 4.687 % |
| 2‑year note | 3.473 % |
The latest Department of Labor report showed initial unemployment claims of 212,000 for the week ending Feb. 21, slightly above the revised prior week figure of 208,000 but still below the 215,000 forecast.
On the geopolitical front, Iran’s foreign ministry described the Geneva nuclear talks as yielding “very constructive” proposals, though no specifics were disclosed. The United States and Iran continue indirect negotiations with the involvement of Oman and the International Atomic Energy Agency.
Key takeaways
- Bitcoin is stabilising just below $67 k, a level that may act as a temporary ceiling unless new bullish catalysts emerge.
- Thin liquidity and profit‑taking are keeping price swings muted; the realized profit‑loss ratio suggests a prolonged bear‑to‑bull transition if the market stays under pressure.
- Tech sector strength and short‑squeeze dynamics contributed to the recent rally, but broader market participants remain cautious.
- Spot ETF inflows confirm strong institutional demand for regulated crypto products despite price consolidation.
- Macro and geopolitical factors – stable Treasury yields, modest labor market softness, and tentative progress in Iran nuclear talks – provide a relatively calm backdrop, limiting external shocks to the crypto market for now.
The coming weeks will likely test whether Bitcoin can break the $70 k barrier and sustain momentum, or whether the market will remain in a consolidation phase while investors await clearer macro‑economic or sector‑specific triggers.
Source: https://thedefiant.io/news/markets/bitcoin-hovers-near-usd67k-as-crypto-markets-consolidate
