Bitcoin Squeezed by Global Sentiment as Major Investors Flock to Sell

Bitcoin’s (BTC) price continues to face pressure from global sentiment, amid rising geopolitical tensions and selling actions by major investors (whales) that are weighing on price movements. Citing Bloomberg on Friday (3 April 2026), Bitcoin’s price has held at the lower end of its trading range over the past month. The cryptocurrency with the largest market capitalisation once fell by up to 3.6 per cent to 65,709 US dollars before trimming losses during the New York trading session. Weakness has also affected other cryptocurrencies. Ether recorded a drop of up to 5.9 per cent, while Solana weakened by almost the same amount. This situation has kept global oil prices at high levels. The US benchmark crude oil, West Texas Intermediate (WTI), surged above 111 US dollars per barrel. As a result, global stock and bond markets have moved fluctuantly amid expectations of persistently high energy prices. FxPro’s Chief Market Analyst, Alex Kuptsikevich, stated that Trump’s latest remarks have triggered sharp selling in the market due to a lack of de-escalation signals. He noted that Bitcoin’s price is now ranging between 66,000 US dollars and 69,000 US dollars. Amid this pressure, Bitcoin actually showed some resilience. Throughout March 2026, Bitcoin rose by about 2 per cent compared to the previous month, ending a five-month consecutive downtrend. However, from a longer-term perspective, Bitcoin’s price has corrected by around 45 per cent from its peak of 126,000 US dollars in October. CryptoQuant data indicates that demand for Bitcoin remains weak. The indicator comparing demand to new supply from mining activity was negative by about 63,000 tokens at the end of March. Wintermute trader, Jasper De Maere, said on-chain data confirms the lack of market participant confidence at present. “On-chain data confirms what the price movements have signalled: there is no confidence at all,” he said. From a fund flow perspective, pressure is also evident in US spot Bitcoin exchange-traded funds (ETFs). On Wednesday, outflows reached 174 million US dollars, turning net flows negative again. Nevertheless, throughout March, these ETFs still recorded net inflows of about 1.1 billion US dollars, following four consecutive months of outflows. However, these fund flows are considered highly sensitive to changes in global macroeconomic conditions.