Bitcoin Slides Toward Low-$71K as On-Chain Flows and Sentiment Signal Rising Caution

Bitcoin fell more than 3% on March 18, slipping toward the $71,000 area with an intraday low near $71,019 and trading around $71,366 during the session. The move followed a earlier dip below $72,000 and represented the weakest price action in recent sessions as sellers tested round-number support beneath $71K ^{[1] [2] [3] [4]}.

Market indicators showed rising caution: the Crypto Fear and Greed Index moved into “Fear” territory and on-chain data flagged a quieter supply side while demand remained muted, according to CryptoQuant. Exchange flows also pointed to reduced selling pressure — 30-day BTC inflows to Binance have dropped to their lowest average since 2020, roughly 4,900 BTC per month — and the Bitcoin-to-gold correlation hit its weakest reading since late 2022 ^{[1] [2] [5] [6]}.

Traders and analysts described the immediate direction as unclear, with observers watching the $71K area for further downside and some identifying $77K as a key threshold for a resumed rally versus a deeper correction ^{[2] [4] [3]}.