Bitcoin price slips to $68,000 as dollar posts best week in year

Bitcoin fell 3.4% on March 7, slipping to around $68,000 as the U.S. dollar recorded its strongest week in a year. Ether dropped 4.4% to $1,974, and Solana fell 4% to $84.31.

The pullback followed a mid‑week jump that briefly lifted Bitcoin to about $74,000 on March 5. Prices retreated late in the week, keeping trading near the lower end of recent ranges.

Other large tokens were lower. Dogecoin was down 2.9% to $0.09, BNB fell 2.6% to $627, and XRP slipped 2.2% to $1.37.

On a seven‑day basis, Bitcoin remained up 6%, Ether gained 2.6%, and BNB added 2.1% after earlier advances in the week.

A stronger dollar weighed on risk assets, with markets pricing in higher energy costs and persistent inflation, which reduced expectations for near‑term Federal Reserve rate cuts. On‑chain metrics pointed to cautious positioning. Analytics firm Glassnode estimated that about 43% of Bitcoin’s circulating supply was at an unrealized loss, indicating many holders bought above recent prices.

Flows into stablecoins accelerated. Messari tracked net inflows of $1.7 billion over the week, a 415% increase, with daily transfers up nearly 10%. People often use stablecoins as everyday money or as a temporary parking place before buying crypto.

Developments in the Middle East kept oil elevated and shipping disrupted in the Strait of Hormuz. The firmer dollar made dollar‑priced assets more expensive for overseas buyers and tightened financial conditions, pressuring equities and cryptocurrencies.

Some market participants flagged longer‑term downside risk. According to CK Zheng of ZX Squared Capital, Bitcoin could decline by up to 30% in 2026 based on the asset’s four‑year boom‑bust pattern.