Analysis: Risk assets are under pressure across the board, with BTC and US stock ETFs experiencing continued capital outflows.

PANews reported on March 21 that, according to Cointelegraph, as the US-Israel-Iran war enters its fourth week, market risk appetite is contracting, and Bitcoin's price continues to weaken, briefly falling below $70,000. Funds are accelerating their withdrawal from risky assets: S&P 500 and Nasdaq 100 ETFs have seen a combined outflow of $64 billion over the past three months, a record high; spot BTC ETFs have seen an outflow of $253 million in two days.

Glassnode data shows that the market struggled to absorb selling pressure, with net profit-taking in BTC briefly reaching $17 million per hour before the price subsequently fell back below $70,000. Analysts point out that the current trend is comparable to the Russia-Ukraine war in 2022, suggesting that BTC may rebound initially before weakening; another view is that the price is unlikely to improve before the war with Iran subsides, and may bottom out around $55,000 before recovering.