28.02.202509:28 Forex Analysis & Reviews: Bitcoin and Ethereum approaching critical lows

The crypto market is still unable to overcome the bearish sentiment. Today, Bitcoin and Ethereum have reached critical levels, the breach and consolidation below which could "bury" all hopes for a market recovery this year and the renewal of all-time highs.

Yesterday, BlackRock's spot Bitcoin ETF, IBIT, recorded a record net outflow of $418.1 million, as the cryptocurrency nosedive entered its fourth consecutive day amid mounting pressure from President Trump's tariff plans. Despite losing $741.1 million this week, IBIT remains the largest spot Bitcoin ETF in the US, with over $40.2 billion in total net inflows and $51.6 billion in assets under management. IBIT also holds a dominant 72% share of the US spot Bitcoin ETF market, accounting for $4.1 billion of Wednesday's total trading volume of $5.7 billion.

US spot Ethereum ETFs also reported net outflows totaling $94.3 million, primarily due to BlackRock's ETHA product, which saw withdrawals of $69.8 million. The total outflows over the past five days have reached $244.4 million.

Experts attribute the capital outflows from Bitcoin and Ethereum ETFs to several factors, including profit-taking by investors after the recent crypto rally and concerns over the future growth prospects of the digital asset market. Uncertainty surrounding the Trump administration's tax policies is also weighing on the market, as investors fear that new tariffs could negatively impact global economic growth and, in turn, demand for risk assets like cryptocurrencies.

Despite the recent outflows, Bitcoin's long-term outlook remains optimistic. Many analysts still believe that cryptocurrency has strong growth potential and that spot ETFs will eventually attract significant capital inflows.

At the same time, interest in other cryptocurrencies such as Ethereum and Solana is growing, as reflected in Bitwise and DTCC's plans to launch new ETFs. This could further diversify the crypto market and increase access to digital assets for both retail and institutional investors.

Technical analysis of Bitcoin

Currently, Bitcoin buyers are targeting a return to the $80,600 level, which would open a direct path to $82,300, bringing the price within reach of $83,900. The ultimate target would be the $85,600 high, surpassing which would signal a return to the medium-term bullish market. In case of a Bitcoin decline, buyers are expected around $78,700. A drop below this level could quickly push BTC down to $76,900, with the furthest downside target at $75,000.

Technical analysis of Ethereum

A clear consolidation above $2,153 would pave the way for Ethereum to reach $2,210, with the ultimate target at the one-year high of $2,263, breaking which would confirm a return to the medium-term bullish market. If Ethereum declines, buyers are expected around $2,081. A break below this level could send ETH down to $2,024, with the lowest target at $1,977.