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

CoinFeed reported on March 21 that, according to Cointelegraph, as the US-Israel-Iran war enters its fourth week, market risk appetite has contracted, and Bitcoin's price has continued to weaken, briefly falling below $70,000. Funds are rapidly withdrawing from risk 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 the 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 Iranian war subsides, and may bottom out around $55,000 before recovering.