Svmuu News After the rebound driven by the Middle East ceasefire faded, Bitcoin hovered around $71,000, Ethereum traded around $2,190, and the overall crypto market weakened in sync.
Analysis points out that the breakdown of US-Iran talks and escalating tensions around the Strait of Hormuz have brought the market back to the macro trading logic of "rising oil prices → rising inflation expectations → declining risk appetite." Institutions believe that Bitcoin encountered significant resistance near $74,000, coupled with crude oil returning above $100, putting pressure on capital's risk appetite. However, most views suggest the current pullback has not yet escalated into panic selling. Data shows that spot Bitcoin ETFs still recorded nearly $1 billion in net inflows last week, and the scale of liquidations was significantly lower than Q1 levels, indicating the market's capacity to absorb shocks has improved.
Structurally, there remains strong selling pressure within the $70,000 to $80,000 range, with approximately 13.5 million addresses in an unrealized loss position, limiting upside potential. Meanwhile, the scale of open interest in futures has fallen by over 50% from its 2025 peak, indicating that previous excessive leverage has been somewhat cleared, leading to a healthier market structure. Bitcoin currently behaves more like a macro asset than an independent market, with its price action still highly dependent on inflation and liquidity conditions. Against the backdrop of resurgent US inflation and a cautious monetary policy stance, Bitcoin may maintain a consolidating pattern in the short term. (The Block)