TLDRBTC experienced a 3.4% decline to approximately $68,000 on Saturday following a mid-week peak at $74,000February employment data revealed a loss of 92,000 jobs, with unemployment climbing to 4.4%The greenback recorded its most significant weekly rally in twelve months, weighing on digital assetsLarge holders liquidated approximately 66% of their recent Bitcoin accumulation as retail continued buyingBitcoin ETFs experienced $348.9 million in redemptions — the highest single-day exodus in three weeksBitcoin’s weekly trajectory began on an optimistic note but concluded with significant headwinds. After reaching $74,000 on Thursday, BTC reversed course dramatically, sliding back to approximately $68,000 by Saturday morning — representing a 3.4% decline over 24 hours.Bitcoin (BTC) PriceThe downturn followed disappointing employment figures from the Bureau of Labor Statistics, which revealed the U.S. economy shed 92,000 jobs in February. This stark contrast to economists’ projections of a 50,000 job increase caught markets off guard. Meanwhile, the unemployment rate ticked upward from 4.3% to 4.4%.Equity markets absorbed the shock as well. The Dow Jones Industrial Average plummeted over 900 points in early Friday trading. The Nasdaq Composite declined 1.7%.The broader cryptocurrency market mirrored Bitcoin’s weakness. Ethereum declined 4.4% to $1,974. Solana shed 4% to reach $84.31. Dogecoin retreated 2.9% to $0.09. XRP decreased 2.2% to $1.37.Despite Friday’s selloff, most leading digital assets maintained weekly gains. Bitcoin advanced 3.6% over the seven-day period. Ethereum posted a 2.6% increase. BNB climbed 2.1%.Whale Selling and ETF OutflowsAnalytics from Santiment revealed that large holders — addresses containing between 10 and 10,000 BTC — accumulated positions from February 23 through March 3 while Bitcoin traded in the $62,900 to $69,600 range. As BTC surged beyond $70,000 and reached $74,000, these same addresses offloaded approximately 66% of their recent accumulation.$BTC spot selling has accelerated.The current consolidation seems like distribution. pic.twitter.com/tZVgXuTFAf— Ted (@TedPillows) March 6, 2026Meanwhile, smaller investors — wallets holding less than 0.01 BTC — continued accumulating. Santiment indicated this divergence typically signals additional downside ahead.$ETH ETF outflow of $82,900,000 yesterday.BlackRock sold $4,800,000 in Ethereum. pic.twitter.com/OL3fYPbA5M— Ted (@TedPillows) March 7, 2026Spot Bitcoin ETFs registered $348.9 million in net redemptions on Friday, marking the most substantial single-day withdrawal since February 12.Crypto analyst Michael van de Poppe warned: “If Bitcoin doesn’t find support in this $67–68K region, then we’re likely going to retest the lows.”Macro HeadwindsThe U.S. dollar experienced its strongest weekly advance in a year. Climbing oil prices — with Brent crude reaching $90 per barrel, a surge exceeding 20% over the week — combined with persistent Middle East tensions amplified inflation concerns, diminishing expectations for imminent Federal Reserve interest rate reductions.$BTC In between these important high timeframe weekly levels.Currently, the Weekly 200MA/EMA are holding as support for the past few weeks. But Bitcoin has been unable to bounce properly just yet.Above, the bull market support band, which was lost in November, is acting as… pic.twitter.com/073T2e7rys— Daan Crypto Trades (@DaanCrypto) March 6, 2026Glassnode analytics indicated that 43% of Bitcoin’s circulating supply currently sits underwater. This underwater supply generates selling pressure during price rallies as holders attempt to achieve breakeven.A potential silver lining emerged: net stablecoin inflows surged 415% to $1.7 billion throughout the week, indicating substantial capital waiting on the sidelines.Economist Timothy Peterson observed that Bitcoin’s present price range has historically represented a floor, citing a 99.5% statistical probability that BTC maintains levels above $60,000.The Crypto Fear & Greed Index dropped to a reading of 12 on Saturday, firmly entrenched in “Extreme Fear” territory.The post Bitcoin (BTC) Price Retreats to $68K Following Dismal February Jobs Report appeared first on Blockonomi.