Bitcoin struggles below $120K as macro risks rise, altcoin market turns red

Key Points

1. Bitcoin failed to break the $120K resistance level, closing the week near $115K, while the total digital asset market capitalization fell by 4.5% to $3.84 trillion.

2. The Federal Open Market Committee (FOMC) meeting and new US tariffs on goods from India and semi-finished copper added macroeconomic uncertainty, impacting investor sentiment.

3. Over $629 million in leveraged crypto positions were liquidated in a 24-hour period, marking a 45% increase in forced unwinds compared to the previous day.

4. Spot Bitcoin ETFs recorded net outflows of $114 million, and Ethereum ETFs saw weekly inflows slow to $306 million, well below the $2.1 billion peak from two weeks prior.

5. Analysts note Bitcoin is retesting support levels around $114K–$115K, with potential for a deeper correction if it fails to hold, but some remain bullish on a peak later in 2025.