The cryptocurrency market has once again come under pressure from macroeconomic shocks. Aggressive short positioning combined with massive spot sales have created an extremely vulnerable structure for Bitcoin. According to traders, the current liquidity configuration allows for the first cryptocurrency to drop as low as the $60,000 mark.
The main catalyst for the bearish scenario was Donald Trump's statement about the US intention to take control of the Strait of Hormuz — a strategically important waterway that Iran had previously blocked. Such rhetoric instantly heightened geopolitical tensions, which traditionally drives investors to flee risk assets, including Bitcoin.
However, it is not all clear-cut. Provided demand recovers and geopolitical concerns ease, analysts allow for a sharp rebound in quotes to the $70,000–75,000 range. Such a scenario is possible if the market considers the current escalation a temporary factor and begins actively buying the dip.
My view: In the short term, Bitcoin remains hostage to the foreign policy agenda. The $60,000 level is not just psychological support, but a zone where significant buyer liquidity is concentrated. A break below this threshold could trigger a cascade of liquidations, but it is likely there that the most aggressive buying by large players will begin. We await the market's reaction to news from the Middle East.