Bitcoin has been fluctuating between $64,000 and $67,000 in recent days. This stagnation following the last liquidation wave reveals that general macroeconomic conditions significantly affect investors’ risk appetite for cryptocurrencies.
Developments in artificial intelligence and global supply chain pressure
Recently, expectations for the 2025 fiscal year earnings of US companies and the new artificial intelligence models announced by Anthropic have led to a reconsideration of growth projections in the software and hardware sectors. JJay DM, who trades in over-the-counter (OTC) markets at the market maker company Wintermute, states that artificial intelligence-oriented developments, in particular, cause growth multipliers to decrease on a sectoral basis and volatility to increase.
On the other hand, trade tensions and permanent tariffs in the USA are radically transforming global supply chain dynamics. Increasing costs and geopolitical risks are causing the valuation premium in software-focused global growth companies to come under pressure. Under these conditions, expectations for support from central banks weaken, and cryptocurrencies are considered in the category of high-risk assets in the current macroeconomic environment.
Narrow band movement and low institutional interest in the crypto market
Bitcoin’s failure to surpass the $70,000 level reveals that the market is having difficulty showing a strong recovery trend. While Ethereum has recently approached the $ 1,900 support, the $ 1,600 level stands out as the critical psychological threshold. Rising put option interest and decreasing open positions in derivative markets are an indication that investors are indecisive about direction.
Although investors with high portfolio sizes created short-term volatility in certain altcoins in the middle of the week, the popularity of protective positions shows that risk management is prominent in the market. Analysts emphasize that the impact of artificial intelligence and global divergence themes will be decisive in the crypto market throughout 2026.
Careful monitoring and risk emphasis from market participants
The fact that Bitcoin remains at critical technical levels causes market participants to wait carefully. Experts state that liquidity above 70,000 dollars is especially concentrated and the movement in this region may be decisive in pricing in the coming period. A market observer shares the following assessment, noting that entry should not be made without appropriate confirmation signals and that risk management should be prioritized:
“Liquidity accumulation above $70,000 draws attention. There is concentration at this level and it stands out that prices may test this area. Instead of opening a position directly, it is important to wait for appropriate market signals and not to abandon risk controls.”
On the other hand, Bitcoin’s loss of $65,500 at the close yesterday is considered important in terms of this level, which has been working as support for the last two weeks. The testing of $62,800 in the early hours of the day caused the $60,000 support seen in the previous sharp decline to come to the fore again.
While Asian transactions showed that Bitcoin slipped below $ 65,000 again in the morning hours, it is stated that the long position of approximately $ 230 million was liquidated. Investors are closely monitoring whether there will be a recovery at these critical thresholds or whether the decline will continue.
