Bitcoin Tops $75,000 as U.S. Data Softens, Private Credit Strains Grow, and Geopolitical Risks Persist

Odaily Planet Daily reports that Bitcoin, after touching $69,000 on Wednesday, pulled back as President Trump's comments did not reassure markets about an end to the Iran conflict. At the same time, WTI crude climbed above $110, fueling risk-off positioning. In credit markets, the U.S. Treasury flagged risks in the roughly $2 trillion private credit sector. Blue Owl, which oversees $307 billion in assets, disclosed "unusual redemption requests" for two private credit funds and imposed a 5% withdrawal cap. On the macro front, continuing U.S. unemployment claims rose to 1.84 million. Bitcoin defended support near $66,000 this week but faced sustained selling pressure. U.S.-listed spot Bitcoin ETFs have recorded $450 million in net outflows since March 24. The sector holds about $88 billion in Bitcoin, led by BlackRock's IBIT with $53.9 billion. On the supply side, MARA Holdings sold 15,133 BTC in March, Riot Platforms moved 500 BTC in preparation for a sale, and Nakamoto Holdings sold 284 BTC. The U.S. federal deficit is projected to reach $1.9 trillion by 2026, and investors see potential stimulus measures as a medium-term tailwind for Bitcoin. Ongoing purchases by firms such as Strategy and Metaplanet have helped offset part of the selling pressure.