- Bitcoin fell below $65,000 again this month amid macro pressure
- Tariff concerns and geopolitical tension are weighing on risk assets
- Liquidity conditions suggest volatility may not be over yet
The cryptocurrency market is facing renewed pressure as Bitcoin slides to the $64,000 level. According to CoinGecko data, BTC is down 4.5% in the last 24 hours, nearly 5% over the week, 8% across 14 days, and more than 27% over the past month. This marks the second time this month Bitcoin has fallen below $65,000, reinforcing a fragile technical structure.
Altcoins are following Bitcoin’s trajectory, amplifying overall market weakness. When BTC loses key support levels, liquidity across the ecosystem tends to thin out quickly. That dynamic appears to be unfolding again.
Macro Pressure Is Back in Control
The broader downturn traces back several months. October recorded one of the largest single-day liquidation events in crypto history, driven by macroeconomic uncertainty and geopolitical tension. Another wave of weakness hit in early February during a liquidity crunch.
Now, fresh pressure appears tied to President Donald Trump’s plans to raise global tariffs to 15%. According to Jeff Mei, COO at BTSE, the uptick in tariff expectations is prompting investors to reduce crypto exposure ahead of potential market deterioration. Trade escalation tends to tighten global liquidity and dampen risk appetite, both of which directly affect digital assets.
Geopolitical Tension Adds to the Weight
Beyond tariffs, rising tensions between the United States and Iran are contributing to investor caution. Crypto markets are highly sensitive to global instability. While Bitcoin is often framed as a hedge narrative, short-term trading behavior shows that it still moves closely with broader risk sentiment.
If liquidity continues to contract and macro uncertainty persists, Bitcoin could test deeper support levels. Some analysts are speculating about a possible move below $40,000, though such a decline would likely require a more severe macro shock. A break of that magnitude would almost certainly trigger a broader crypto selloff.
Is This a Crash or a Compression Phase?
Despite the current weakness, not every downturn evolves into a full-scale crash. Markets often experience extended consolidation before establishing a new trend. Liquidity cycles, Federal Reserve policy signals, and global economic data will likely determine whether this dip deepens or stabilizes.
Long-term bullish narratives remain intact for many investors. Bitcoin’s decade-long performance history continues to support high-end projections, including the widely discussed $1 million target by the end of the decade. However, short-term price action is dictated by liquidity, not long-term conviction.
Opportunity or Warning Sign?
For some investors, sharp pullbacks represent discounted entry points. For others, they signal heightened risk in a fragile environment. The difference depends on time horizon and risk tolerance.
What is clear is that volatility has returned. Until macro conditions stabilize and liquidity improves, the crypto market is likely to remain reactive rather than resilient.
