Just look at today, all major cryptocurrencies are red even though Asian stocks are rallying. Bitcoin dropped to around $74K, Ether fell to $2.32K, and XRP along with Solana are also struggling. Meanwhile, Nikkei and KOSPI are doing well, but crypto isn't bouncing back. It seems this is due to the dollar being strong after the Fed release minutes, which signal they’re not in a hurry to cut interest rates, and there’s even a possibility of hikes if inflation remains high. What’s interesting is that gold remains solid amidst all this uncertainty. It’s a stark contrast to the volatile crypto market. This raises questions again: can Bitcoin still be called digital gold if real gold is the safe haven? A strong dollar usually suppresses risky assets, and the market is clearly showing that pattern. Geopolitical tensions also remain a concern, with US-Iran tensions keeping oil prices elevated. What to watch: Bitcoin tried to break through $76K but failed and retreated, the funding rate on major exchanges has been negative for 46 days, and every rally is met with selling. With volatility at 1:50, the market is currently stuck between relief bounces and macro factors that aren’t yet supportive of a real trend change. A return to risk appetite and stable ETF flows are needed for this to shift.

I have noticed that the market has remained in a rather bearish phase in recent days. Bitcoin is fluctuating around $74,250, while Ethereum has fallen back to about $2,320. XRP stays steady at $1.36. Volumes remain low, and there is clearly persistent selling pressure without major catalysts to boost buying. What interests me is that we were supposed to see consolidation between $80,000 and $100,000 at the beginning of the year, but ultimately the selling dynamic continued. Analysts mentioned insufficiently accommodative monetary policy and selective ETF flows that limited the market's ability to enter a true bullish cycle. That still seems to be the case. Liquidity remains uneven, and even moderate sales can break support levels. We observe some caution among participants, with short positions accumulating. In the short term, traders are watching whether prices can stabilize or if selling pressure intensifies further. For now, sentiment remains defensive, and accumulation has not really taken off as expected.