Bitcoin trimmed earlier gains late Friday after fresh reports of escalating military tensions in the Middle East weighed on risk sentiment.

Notable Statistics:

• Coinglass data shows 107,056 traders were liquidated in the past 24 hours for $450.16 million.
• SoSoValue data shows net inflows of $53.9 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $115.9 million.
• In the past 24 hours, top gainers include OFFICIAL TRUMP, Render and DeXe.

Notable Developments:

• Dubai Postpones Token2049 Crypto Conference Over ‘Safety Concerns’ As Iran Strikes Continue
• Circle Executive Says Crypto’s Next Phase Will Be Payments, Not Speculation: ‘It’s About How You Move Billions Or Trillions Of Dollars’
• XRP Holds Key Support Against Bitcoin, Gold: Is A Reversal Next?
• Bitcoin’s Cycle Is Intact, But The Bottom May Come In 2027, Analyst Says
• Solana’s ‘Precious Metal’ Tease Evokes Curiosity As SOL Spikes 4%
• 4 Reasons Why Bitcoin Is Up 4% To $72,000 Today
• Companies Sold More Bitcoin Than They Bought In February For The First Time On Record — But Saylor Kept Buying
• What Risk-Off? Bitcoin ETFs Just Checked Every Box For A Bull Market ― Officially

Trader Notes: Trader Leshka.eth said Bitcoin may face downside next week after forming a technical structure like December, which previously resulted in a bull trap followed by a sharp decline.

If Bitcoin fails to break above the current wedge pattern with strong momentum, the analyst said the next downside target could be around $40,000.

Michael van de Poppe noted that Bitcoin displayed typical Friday price action, pushing toward recent highs to sweep liquidity before reversing lower.

Such moves often trap late long positions, though he said the broader structure could still support another attempt at the highs, potentially within the next two weeks if momentum returns.

Trader Koala highlighted the importance of the weekly 200 EMA for Bitcoin. A loss of this level is generally seen as bearish, signalling weakening long-term momentum. However, reclaiming the level could flip the outlook bullish and indicate renewed strength in the market.

Koala added that a strong weekly close above the 200 EMA would provide clearer confirmation of the trend rather than relying on selective interpretations that fit traders' narratives.

Image: Shutterstock