Bitcoin faces pullback risk as retail buys below $70K while whales trim holdings

Bitcoin has traded in the low to mid $60,000 range after retreating from $74,000, with on-chain data showing smaller investors buying below $70,000 as larger holders reduce exposure, Santiment reports. Between Feb. 23 and Mar. 3, wallets holding 10–10,000 BTC accumulated heavily while the price fluctuated between $62,900 and $69,600, but from a Wednesday peak these whales have since sold roughly 66% of those recent purchases, even as addresses with less than 0.01 BTC continued to add. The Crypto Fear & Greed Index dropped to 12, signaling "Extreme Fear," while Farside data show $348.9 million in net outflows across 11 spot Bitcoin ETF products, marking the largest single-day withdrawal in three weeks. Analysts including Mn Trading Capital's Michael van de Poppe suggest that if the $67,000–$68,000 area fails to hold as support and ETF demand does not improve, Bitcoin could face further volatility and a possible retest of lower levels within the $60,000–$68,000 corridor.