On March 27, the price of Bitcoin fell below $67,000, losing over 4% in a single day. Ethereum also dropped below $2,000.

At the time of writing, Bitcoin is trading around $66,500.

Bitcoin's decline has dragged down the rest of the market. The leading altcoin is hovering near $1,980, down 4% in the past 24 hours. XRP has decreased by 3.2%, while Solana has fallen by 5.1%.

Liquidation volumes exceeded $449 million in one day, with the majority—$398 million—coming from long positions.

ETF

Pressure intensified following a $171 million outflow from U.S. spot Bitcoin ETFs. The last trading session was the worst in three weeks.

However, the monthly trend remains positive, with funds attracting $1.3 billion to date.

Ethereum-based products saw outflows of $92.5 million, continuing a seven-day streak.

Macroeconomics

Experts believe that the market's next moves will depend on a brief geopolitical window. U.S. President Donald Trump postponed an ultimatum to Iran, promising to "destroy" all of the country's power plants for ten days, as reported by The New York Times.

This ten-day pause has initiated a "countdown," explained Rania Gule, a senior analyst at XS.com. The outcome will determine whether tensions ease or escalate.

The U.S. dollar has already reacted to the news. The DXY index broke 100, and the yield on ten-year bonds surged to 4.45%. This increase is supported by demand for safe-haven assets and ongoing inflation risks in energy markets.

The US bond market is in major trouble today.

Just hours after President Trump's "10-day pause" of strikes on Iranian power plants, yields are at their highest level of the Iran War yet.

The 10Y Note Yield is up to 4.47% with mortgage rates hitting fresh 7-month highs.

In less… https://t.co/ccQ91LMeSO pic.twitter.com/NSYCP002o8

— The Kobeissi Letter (@KobeissiLetter) March 27, 2026

“The disarray in energy resource control, tightening monetary policy, and escalation of conflict are pushing liquidity into a compression zone,” noted Bitunix.

QCP also emphasized that geopolitics remains the key variable. Conflicting signals surrounding U.S.-Iran negotiations, combined with military presence in the Middle East, keep markets on edge, especially before weekends when the risk of escalation is typically assessed more sharply.

If tensions ease and the dollar weakens, liquidity may return, sparking a new growth phase. Conversely, if the U.S. dollar continues to strengthen amid high oil prices, risk assets will remain under pressure or decline.

Notably, analysts at JPMorgan asserted that Bitcoin is weathering the Iranian crisis better than major precious metals.