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Bitcoin has been consolidating between $62K-$75K amid geopolitical and macroeconomic uncertainty.
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Debate has risen over its next move, with predictions ranging from an impending bottom to bullish signals.
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Evidence suggests indecision among investors is hurting $BTC buying pressure.
Bitcoin ($BTC) has been in consolidation between $62,000 and $75,000 over the 25 days of the US-Iran military conflict.
Source: CoinMarketCap
At press time, the flagship cryptocurrency was trading at $70,748, having gained 1.3% in the day following reported peace talks between the rival nations.
The positive price action is also attributed to a year-to-date reversal in Bitcoin ETF outflows, with $2.5 billion in inflows over the past month alone.
Why Bitcoin is consolidating despite heightened accumulation
A short squeeze could have triggered further buying pressure as investors sought to cover their losses (short-position liquidations rose to $48.2 million on the day).
Another reason is increased investor accumulation, as shown by blockchain intelligence firm Glassnode. 10,485 $BTC has been offloaded from exchanges in the past week, bringing Bitcoin balances to an all-time low of 2.4 million. Long-term holders have expanded their $BTC portfolios, adding about 33,000 $BTC in the past month.
Still, prices remain below $75K due to insufficient buying pressure despite tight supply.
The $BTC price debate
In the past, Bitcoin prices have plunged roughly 850 days after a halving. At around 700 days post the 2024 halving, it would appear we are almost due for a repeat in history.
Source: Crypto Rover
Crypto market intelligence division K33 Research supports this theory, identifying $60K as a likely upcoming bottom fueled by negative funding.
To add on to that, Bitcoin’s “electrical cost” (break-even mining price) has declined below $60K from $70K in Q4 2025. Historically, reduced miner profitability coincided with price floors. This has been the argument among analysts, including those at Kalshi prediction markets, in their forecasts of a low of $48K.
Source: Trading View
Source: Trading View
Which direction the coin will take remains to be seen, with looming geopolitical tensions and Fed action as key catalysts for price movement.
