Bitcoin Near $68,000 After Five-Month Slide, ETFs Hold Over 6% Supply
Bitcoin traded near $68,000 on March 31, closing within 1% of February’s $67,000 after five straight monthly declines. Analysts predict a $60,000 retest on bearish flows and a rebound to $150,000 by end-2026, noting ETFs now hold over 6% of total supply.
1. Bitcoin's Five-Month Decline
From October through February, Bitcoin fell for five consecutive months before trading near $68,000 on March 31, within 1% of February’s $67,000 closing price.
2. Analyst Expectations
Compass Point warns that bearish blockchain flows could drive a retest of $60,000 lows, while Bernstein reaffirms a $150,000 price target for the end of 2026 based on renewed institutional interest.
3. ETF Inflows and Institutional Demand
Exchange-traded funds have accumulated over 6% of Bitcoin’s total supply in recent weeks, and digital asset treasury giant Strategy holds at least 3.6% of circulation, signaling strong institutional reentry.
4. Market Outlook and Risks
Despite signs of a relief rally, analysts caution that underlying bearish flows may persist, recommending that investors preserve capital and await more conclusive directional shifts before adding exposure.