Connect with us
DAPA Banner

Crypto World

Bitcoin clings to $69k support as ETFs flip and fear index sinks

Published

on

Bitcoin traders face possible 70% drawdown with $38k target in play

Bitcoin is holding just below $70k after a hawkish FOMC, ETF outflows, and a shift to Fear, with weak long conviction but easing miner selling and difficulty.

Bitcoin is trading above $69,900 on Friday evening, clinging to key support levels after a bruising week shaped by the Federal Reserve’s hawkish tone, a reversal in ETF flows, and broad risk-off sentiment across global markets. The crypto Fear & Greed Index sits at 28 — deep in Fear territory — as investors weigh the durability of BTC’s recovery against a deteriorating macro backdrop.

The week’s defining moment came on Wednesday, when the Fed held rates steady at its March FOMC meeting but signaled that fewer rate cuts are likely in 2026 than previously expected. Bitcoin fell roughly 5% in the immediate aftermath, sliding from near $74,000 to test the $70,000 level, as institutional players moved to de-risk. The reaction was compounded by a sharp reversal in ETF flows: after a highly bullish seven-day inflow streak that had brought in over $1.1 billion, US-listed spot Bitcoin ETFs recorded a $129 million net outflow on Wednesday alone — snapping the positive run and rattling sentiment.

Advertisement

The sell-off dragged the broader crypto market with it. Ethereum and Solana each fell 5–6% in tandem, confirming that Bitcoin’s near-term correlation with risk assets remains elevated. With BTC’s 30-day correlation to the S&P 500 sitting at 0.74 — the highest of 2026 — the asset is currently trading less like a macro hedge and more like a high-beta tech proxy, a dynamic that leaves it exposed to any further deterioration in equity markets.

Despite the fear reading, there are structural factors that have prevented a more severe breakdown. Open interest data tracked by CoinGlass shows that during yesterday’s dip to $68,750, shorts were actively adding positions — forming what the firm described as a “clean short position buildup.” The price has since rebounded, though OI has not increased meaningfully, suggesting range-bound rather than trending conditions. The lack of new long entry confirms that conviction on the buy side remains cautious, but the shorts have also not fully pressed their advantage.

Advertisement

On the supply side, the picture is more constructive. Miner selling pressure — a persistent headwind throughout the first quarter — is showing signs of fading, with net miner outflows down 82% from their February peak. A significant difficulty adjustment tonight, expected to drop ~7.5%, will further ease cost pressure on the mining industry and reduce near-term forced selling from that cohort.

For now, Bitcoin finds itself in a holding pattern: above the critical $66,827 level where over $1.87 billion in leveraged longs sit exposed, but well below the $73,757 resistance that would trigger a short squeeze. With macro uncertainty elevated, geopolitical tensions unresolved, and sentiment firmly in fear, the burden of proof lies with the bulls to demonstrate fresh conviction before the market can credibly call the bottom in.

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Google Threat Intelligence Sounds Alarm on Latest Crypto Malware Threat

Published

on

Malware, Cybercrime, Cybersecurity, Hacks

Google Threat Intelligence has identified a new form of crypto-stealing malware called “Ghostblade” that affects Apple iOS devices and is part of the “DarkSword” suite of browser-based malware tools designed to steal private keys and other sensitive information.

Ghostblade is written in JavaScript and designed for rapid data theft. The crypto-stealing malware activates, grabs sensitive data from the compromised device, and relays it to malicious servers, according to Google Threat Intelligence.

The Ghostblade malware does not run 24/7 on the compromised device, does not require extra plug-ins to function, and stops functioning after extracting data, making it more difficult to detect, the threat researchers said.

Malware, Cybercrime, Cybersecurity, Hacks
A timeline of the evolving malware threats targeting Apple iOS devices and the cybersecurity patches released to address the threats. Source: Google Threat Intelligence

The malware also includes code that deletes crash reports from the compromised device, preventing Apple from receiving them and flagging the malicious software.

Ghostblade can access and relay messaging data from the iMessage texting application for Apple devices, Telegram and WhatsApp.

Advertisement

The malicious software can also steal SIM card information, identity, multimedia and geolocation data, and access system settings, according to the Google cybersecurity report.

Malware, Cybercrime, Cybersecurity, Hacks
A list of sensitive data that can be stolen by Ghostblade malware. Source: Google Threat Intelligence

DarkSword and its components are one of the latest cybersecurity threats identified by Google Threat researchers, shedding light on the evolving methods used by malicious actors to steal crypto and other valuable data from unsuspecting users.

Related: Google uncovers iOS exploit kit used in crypto phishing attacks

Hacks fall in February as malicious actors pivot to exploiting human error

Losses from crypto hacks fell to $49 million in February, a sharp decrease from $385 million in January, according to blockchain intelligence platform Nominis.

This drop reflects a pivot from code-based cyber threats to crypto phishing attempts, wallet poisoning attacks and other threat vectors that take advantage of human error, Nominis said in its report.

Advertisement
Malware, Cybercrime, Cybersecurity, Hacks
Private users bore the brunt of hacking, phishing, and other crypto-theft attempts in February. Source: Nominis

Phishing attempts typically use fake websites designed to look legitimate. These fake websites often use URLs that are nearly identical to the legitimate sites they masquerade as, tricking users into visiting them.

These sites embed malware that can steal crypto private keys and other valuable data when a user accesses the site or clicks any of its elements. 

Magazine: WazirX hackers prepped 8 days before attack, swindlers fake fiat for USDT: Asia Express