Everyone knows that the recent recovery was primarily driven by intense selling pressure on trading platforms. The rise from 60,000 to around 72,000 compensated for only a small part of the decline - about a quarter of the previous drop, or just a little less.
Negative news is still circulating, while positive catalysts remain limited. With the reopening of markets, anything is possible: either the continuation of the correction or a new recovery breaking the 72,000 level. However, the price of Bitcoin typically does not rise easily without at least recording a new low near the 60,000 area. Investors are currently experiencing a state of fear, especially in the United States, largely due to concerns about the potential for conflict between Iran and the United States.
We also cannot ignore economic data. Whenever the news is positive for the US dollar, it is often negative for Bitcoin and most altcoins. This dynamic affects global markets in general, but its impact is amplified in cryptocurrency markets.
The decisions of the Federal Reserve significantly impact the market, whether by keeping interest rates steady or lowering them. The last time Bitcoin's price approached 97,800, a sharp decline followed the announcement to keep interest rates unchanged, dropping from 97,800 to around 60,000. Approximately 30% of Bitcoin's value evaporated in less than a month, illustrating the extent of the pressure.
The ongoing trade war has also played a role in this. Since its inception, available liquidity in the market has been limited. As a result, the market has become difficult to navigate, showing only a few cryptocurrencies with short-term momentum that rarely lasts more than a week.
The lack of liquidity is considered one of the strongest reasons for the overall weakness of the market. During the rise of Bitcoin, the prices of many altcoins inflated excessively without real liquidity supporting them. If we compare the years 2024, 2025, and 2026, we find that the recent period has been the weakest from the beginning due to declining liquidity and reduced investor participation, whether in Bitcoin, Ethereum, or even assets linked to exchange-traded funds. Even promising exchange-traded funds experienced weak cash flows. This explains the possibility of Bitcoin's price returning to $60,000 if the global economic crisis remains unresolved.
Gold and silver have attracted significant liquidity from the cryptocurrency markets. Physical gold is viewed as a tangible safe haven, while Bitcoin is considered digital gold that cannot be physically owned. In times of uncertainty, many investors prefer to hedge with gold in anticipation of future crises, which increases pressure on Bitcoin.
