Bitcoin Faces $61K Drop Amid Macro Pressures & Trump’s Tweets
Bitcoin enters the weekend with a broken near-term technical structure, facing significant downside risks amplified by elevated macroeconomic pressures and potential political catalysts. The cryptocurrency’s price has steadily deteriorated over the past two weeks, losing key support levels from the upper $73,000s down through $71,500, $68,000, and $66,900. This bearish rotation suggests the market is moving into a lower value area, with the next defined support channel identified between $61,700 and $61,100.
Macroeconomic factors are intensifying this downward pull. Rising Treasury yields, with the 10-year yield touching its highest level since July, combined with ongoing Middle East geopolitical risks impacting oil prices and inflation expectations, create a challenging environment for rate-sensitive assets like Bitcoin. The Federal Reserve’s stance on elevated inflation further limits policy flexibility, burdening market structure.
A crucial variable is President Donald Trump’s public messaging on Iran, which has historically swayed sentiment across global markets, including crypto. His past social media interventions on Tariffs, Venezuela, and Greenland, often made when markets are closed, have triggered significant volatility. While a de-escalatory post from Trump could offer a temporary relief rally into Monday, a confrontational message or silence, coupled with firm yields and oil prices, would leave Bitcoin’s broken structure exposed to further declines towards the $61,700-$61,100 support zone.
For Bitcoin to stabilize, it needs to reclaim $66,900 and then $68,000. A more significant recovery would involve breaking above $71,500, a level where previous rebound attempts failed. However, if BTC remains capped below these resistance levels, the market is likely to continue its stepwise decline towards the $61,000 bracket, reflecting a decision on where the next balance area should sit.
