Everyone knows the recent rebound was mainly driven by heavy selling pressure across exchanges. The bounce from 60,000 to around 72,000 recovered only a small portion of the drop — roughly a quarter of the previous decline, or slightly less.
Negative news is still circulating, while positive catalysts remain limited. With markets reopening, anything is possible: either a continuation of the correction or a new rebound with a breakout above the 72,000 level. However, Bitcoin typically does not launch upward easily without forming at least a new low near the 60,000 region. Investors are currently in a state of fear, especially in the U.S., largely due to concerns about a potential conflict between Iran and the United States.
We also cannot ignore economic data. Whenever news is positive for the U.S. dollar, it tends to be negative for Bitcoin and most altcoins. This dynamic affects global markets overall, but its impact is amplified in crypto markets.
Federal Reserve decisions — whether holding or cutting interest rates — have a major influence. The last time Bitcoin was near 97,800, the announcement to hold rates was followed by a sharp drop from 97,800 to nearly 60,000. Almost 30% of Bitcoin’s value disappeared in less than a month, showing how strong the pressure was.
The ongoing trade war has also played a role. Since it began, liquidity entering the market has been limited. As a result, the market has become difficult to move, with only a few coins showing short-term momentum that rarely lasts more than a week.
Liquidity shortage has been one of the strongest reasons behind the broader market weakness. During Bitcoin’s rise, many altcoins inflated in price without real liquidity backing them. If you compare 2024, 2025, and 2026, the recent period has been the weakest from the beginning due to reduced liquidity and lower investor participation — whether in Bitcoin, Ethereum, or even ETF-related assets. Even strong ETF candidates have shown weak inflows. This explains why Bitcoin could revisit 60,000 if the broader crisis remains unresolved.
Gold and silver have absorbed a significant amount of liquidity from crypto markets. Physical gold is viewed as a tangible safe haven, while Bitcoin is considered digital gold and cannot be physically held. During times of uncertainty, many investors prefer hedging with gold in anticipation of future crises, which adds further pressure on Bitcoin.
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