Bitcoin Below $79,000 Threshold as ETF Outflows and Liquidity Pressures Persist

Critical Technical Levels and Market Structure As February draws to a close, Bitcoin continues to trade below the $79,000 mark, a level identified by on-chain data as a critical valuation threshold.
Analysts note that current price movements are establishing a new structural framework for the market amid persistently tight liquidity conditions.
A weekly report from on-chain data provider Glassnode highlighted that Bitcoin has fallen below its "True Market Mean"—the average cost basis of the active supply—currently situated at $79,000.
Historically, this level has served as a boundary between market expansion and contraction phases.
According to the analysis, the "Realized Price," which stands at approximately $54,900, represents the lower structural support level.
ETF Outflows and Macroeconomic Pressure Market conditions appear weaker compared to the beginning of February.
The resurgence of net outflows from U.S.
spot Bitcoin ETFs has weakened marginal demand, while sell-side transactions in spot markets have increased.
Bitcoin has recently been trading around $67,700, oscillating within a defined range of $60,000 to $70,000.
On the macroeconomic front, cautious signals from the U.S.
Federal Reserve regarding interest rate cuts continue to weigh on risk assets.
The prevailing market sentiment suggests that a sustained recovery remains unlikely until there is greater clarity regarding monetary policy.
Analyst Perspectives and Future Outlook Market analyst Antonio Di Giacomo noted that Bitcoin is undergoing an adjustment phase amid macroeconomic caution.
He emphasized that investors should closely monitor resistance near $70,000 and intermediate support levels between $64,000 and $65,000.
Nic Puckrin, co-founder of Coin Bureau, added that liquidity conditions, rather than technical levels alone, will determine the formation of a permanent market bottom.
Experts warn that if ETF inflows do not resume, a deeper correction toward the $55,000 to $58,000 range remains a possibility.
Both institutional demand and global liquidity data will continue to be critical factors for the market's future direction.