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Bitcoin joined a risk-asset rout as oil-supply nerves sparked major US inflation warnings, with $70,000 in place as new BTC price resistance.BTC price performance is set to seal its sixth straight month of losses at the March close.
Data from TradingView captured ongoing BTC price losses, which approached 4% on the day and threatened to turn March into Bitcoin’s sixth consecutive “red” month.Macro headlines drove weakness across risk assets. US stocks opened downward after Iran closed the Strait of Hormuz, sharpening nerves over global oil supplies. With the US-Iran war set to extend into April, markets showed stress everywhere — including US bonds.“In less than one month, markets have gone from discussing rate cuts to rate hikes, with the base case showing a Fed PAUSE for the next 18 months,” it continued. “Keep in mind, the Fed was cutting interest rates because the labor market was weak, and it remains weak. However, inflation expectations have just become an even bigger problem than the labor market. This is objectively unsustainable.”“Inflation expectations have become so bad that the market is trading like an emergency Fed rate hike is imminent,” Kobeissi founder Adam KobeissiBitcoin value ‘off the chart’ as BTC price metric hits record lows in 2026 “BTC has clearly broken its ascending trendline and is now showing lower highs under the 70–72K supply, confirming a short-term bearish shift; with price losing the 68K support, continuation toward the 64–65K demand zone is likely, and only a reclaim above 70K would invalidate the bearish momentum,” it told subscribers.revealed the high stakes for price into the March monthly close, with BTC/USD readying its first six straight months of losses since the end of its 2018 bear market.“Indeed seeing the market derisking into the weekend as expected and as we've been seeing several weeks now,” trader Daan Crypto Trades “Eyes on that $65.6K low from last week Monday. Main area to watch for me will be the range low. Seeing there's still quite a bit of liquidity around that area.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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