Bitcoin price struggles below $97K as ETF outflows and altcoin dominance weigh on momentum. Can BTC hold $95K support?
Bitcoin price action has come under intense scrutiny this week following an overheated inflation print in the February 13 US CPI report. On Friday, BTC has stabilized just above the $97,000 mark, however, despite a mild 0.54% daily gain, Bitcoin’s momentum has paled in comparison to the surging altcoin market.
On February 14, the U.S. Securities and Exchange Commission (SEC) acknowledged Grayscale’s filings for Dogecoin and Ripple (XRP) spot ETFs, triggering a notable rally in both assets. XRP soared by 14% within the daily timeframe, while DOGE surged by 7%, underlining strong investor enthusiasm for alternative cryptocurrencies.
The rising optimism surrounding altcoin-based ETFs has impacted Bitcoin’s market dominance. BTC.D, which tracks Bitcoin’s share of the total crypto market capitalization, plunged 3% over the past week, reaching a 14-day low of 66.7%. This sharp decline suggests that traders are actively reallocating capital from Bitcoin to alternative assets, anticipating significant price movements in the altcoin sector.
Several market factors have contributed to this shift. The acknowledgment of altcoin ETF filings signals a potential breakthrough for wider institutional adoption beyond Bitcoin. Additionally, memecoins have regained traction following Donald Trump’s campaign endorsements of crypto, further fueling speculation in the sector. If Bitcoin’s dominance continues its decline, it could indicate a prolonged altcoin season where alternative assets outperform BTC price in the short to medium term.
Another significant factor behind BTC price stagnation is the growing trend of capital outflows from BTC-focused ETFs. Data from SosoValue’s Bitcoin ETF daily flows chart reveals a combined $650 million in outflows over the past four trading days, spanning February 11 to February 15.
These 4 consecutive withdrawals days indicate that institutional investors may be de-risking their BTC positions, potentially rotating funds into altcoins amid speculation of new ETF approvals. While Bitcoin ETFs saw strong inflows in January following the landmark approval of spot BTC ETFs, the recent reversal suggests waning enthusiasm among institutional investors.
One possible explanation for this trend is the anticipation of broader ETF acceptance for alternative cryptocurrencies. If XRP and DOGE receive regulatory approval, institutional capital that previously flowed into Bitcoin ETFs may instead be redirected to these newly listed products. Such a scenario could further weaken Bitcoin’s short-term price momentum, especially if current outflows persist.
Despite Bitcoin’s fundamental strengths, its near-term outlook remains uncertain amid shifting market dynamics. The ongoing dominance contraction and ETF outflows indicate that BTC bulls may struggle to reclaim decisive momentum unless fresh catalysts emerge. With traders increasingly focusing on altcoin opportunities, Bitcoin could face an extended consolidation phase unless it breaks decisively above $100,000 in the coming weeks.
Despite positive sentiment in the altcoin markets, Bitcoin price forecast charts reveal weak bullish momentum. Consolidating just below the midline of the Bollinger Bands near $97,260 at press time, failure to close above $97,000 could see bears regain control.
In this scenario, the lower Bollinger Band at $93,440 aligns with a key support zone, making $95,000 a critical level to watch. If sellers push BTC below this threshold, the next leg down could test $92,500, with a broader downside move potentially extending toward $90,000. The Relative Strength Index (RSI) remains weak at 46.13, with its signal line crossing below, signaling continued bearish momentum.
On the bullish side, BTC needs to reclaim the 20-day moving average at $99,094 for a momentum shift. A successful break above this level could open the path toward $104,748, the upper Bollinger Band. However, decreasing volume suggests waning buyer interest, making an immediate breakout unlikely unless fresh catalysts emerge. If ETF outflows persist and BTC loses $95,000, downside risks could accelerate, putting further pressure on the broader crypto market. The next few sessions will be pivotal in determining whether Bitcoin can hold its ground or faces deeper corrections
