Bitcoin falls below $69K; $110B wiped off market cap despite institutional wins

first published 2026-03-06T05:57:49Z

Bitcoin spiked to about $74,000 before losing momentum and slipping under $71,000. CryptoQuant’s Bull Score remains 10/100, which analysts say indicates the move is likely a short-lived relief rally rather than a new bull phase. Short-term buying was supported by renewed US ETF inflows and a positive Coinbase premium, but commentators warned of fading momentum, persistent macro uncertainty and vulnerability to further downside; a few firms see early signs of improving momentum.

AI Analysis

Price action: brief move to ~ $74k then drop below $71k. On‑chain metric: CryptoQuant Bull Score at 10/100 described as “deep in bearish territory.” Reported drivers: US ETF inflows and positive Coinbase premium fueling short-term buying; analysts warn of fading momentum and macro uncertainty that could expose prices to renewed downside.

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