The cryptocurrency market is navigating a pivotal moment as Bitcoin trades around $68,300, following another rejection at the $70,000 zone. Altcoins mirrored the risk-off tone, with Ethereum slipping to about $1,965, Solana down 2.4 per cent, and XRP falling over 3.3 per cent.

The short-term market structure, analysts said, appears fragile, with declining ETF inflows since mid-January reinforcing a cautious sentiment.

“Risk appetite remains selective, and macro cross-currents are keeping traders defensive,” said Vikram Subburaj, CEO of Giottus. In derivatives markets, he added, “The market continues to behave as if it is ‘de-leveraging first, asking questions later.’ Rallies have struggled to hold, and dips are…