Bitcoin and Ethereum Struggle as Oil Spike and ETF Flows Rattle Crypto Markets

Bitcoin Struggles to Sustain Rally

Bitcoin recently staged a strong rebound after briefly falling to around 60,000 dollars. The digital asset climbed to nearly 71,750 dollars before losing momentum, leaving prices stuck within a broad consolidation range between 65,000 and 74,000 dollars.

Analysts say the inability of buyers to push prices higher signals a market still grappling with external pressures rather than a clear directional trend.

At the time of writing, Bitcoin was trading around 67,215 dollars with a 24 hour trading volume exceeding 37 billion dollars. According to market data, the cryptocurrency fluctuated between roughly 65,600 and 68,100 dollars during the past day.

Oil Surge and Geopolitical Risk Add Pressure

Rising energy prices have added another layer of stress to risk assets, including cryptocurrencies.

Harish Vatnani, head of trading at ZebPay, noted that crude oil prices have surged sharply amid ongoing geopolitical tensions involving Iran. WTI crude futures jumped nearly 19 percent to around 108 dollars per barrel, reaching their highest level in roughly four years.

Such spikes in energy prices tend to weigh on risk sensitive assets, particularly when combined with broader macroeconomic uncertainty.

ETF Flows and Profit Taking Drive Volatility

Institutional flows have also contributed to recent market fluctuations.

Riya Sehgal, research analyst at Delta Exchange, said US spot Bitcoin ETFs recorded approximately 568 million dollars in inflows over the past two weeks, following roughly 787 million dollars the week before. However, daily flows have been uneven, with some outflows recorded toward the end of last week.

Meanwhile, analysts say profit taking from short term holders has intensified selling pressure.

Akshat Siddhant, lead quantitative analyst at Mudrex, explained that Bitcoin faced strong selling activity near the 74,000 dollar level as traders locked in gains. More than 27,000 BTC in realized profits were transferred to exchanges by short term holders during the period, adding to downward pressure.

ETF outflows in recent days further weighed on market sentiment, although the broader weekly flows remain positive.

Key Levels to Watch

Market analysts say Bitcoin’s immediate technical outlook depends on whether buyers can defend key support zones.

Siddhant believes the area near 63,500 dollars represents an important level for bulls to protect. A recovery from this range could help Bitcoin attempt another move toward the 70,000 dollar mark.

Sehgal similarly highlighted the 63,700 dollar level as critical support. A decisive break below that point could expose the market to further downside toward roughly 57,000 dollars.

Ethereum Falls Below 2,000 Dollars

Ethereum has also faced resistance in recent trading sessions. The cryptocurrency reversed after testing the 2,130 dollar region, which aligned with the upper band of its daily Bollinger indicator.

At the latest reading, Ethereum was trading around 1,977 dollars with daily trading volumes close to 19 billion dollars. Over the past 24 hours, prices moved between roughly 1,915 and 2,003 dollars.

Altcoins Show Mixed Performance

Across the broader crypto market, altcoins delivered mixed results.

Several tokens posted gains, with some rising by as much as 18 percent. At the same time, other digital assets came under pressure and declined by up to 11 percent, highlighting continued volatility across the sector.

Institutional Demand Remains a Bright Spot

Despite short term turbulence, analysts say institutional interest in Bitcoin remains a supportive factor for the market.

Vatnani pointed to continued inflows into spot Bitcoin ETFs, which recorded about 568 million dollars in net inflows this week after nearly 787 million dollars the previous week.

He said the figures suggest that investor appetite for Bitcoin exposure is gradually recovering after earlier periods of outflows.

For now, however, traders remain cautious as global markets weigh the combined impact of geopolitical tensions, rising energy prices, and shifting liquidity conditions.