Bitcoin [BTC] erased last week’s gains as traders de-risked before and after the Fed rate decision, which happened on the 18th of March.

After surging 15% to a local high of $76K, partly boosted by the escalating West Asia crisis, BTC reversed and dumped by 10% in the past three days. And ETF investors led the risk-off move. 

In the days that followed, the Spot BTC ETFs recorded a $323 million in net outflows, breaking the inflow streak seen in the past seven days of trading. 

But the BTC pullback has since hit a key 50-day Simple Moving Average (SMA, blue), with another support zone just above $65K. These could offer a new base for bulls to regroup, but it is unclear whether the levels will be…