BlockBeats News, February 12 — QCP Capital client coverage head Elbert Iswara stated during a podcast that this bear market feels more like a liquidity reset rather than a structural collapse. Elbert described the current volatility as a sharp but not uncommon correction in history, with the rebound around $60,000 indicating that underlying demand still exists, especially from long-term holders and institutions.
Elbert believes that market direction is primarily driven by broader risk-avoidance sentiment, including liquidity tightening and changing interest rate expectations. Meanwhile, crypto-specific factors such as ETF fund outflows, derivatives position adjustments, and leverage liquidations have amplified this wave of volatility, making it faster and more intense.
Currently, Bitcoin is trading as a risk asset sensitive to liquidity, especially during tightening or stress cycles. Elbert pointed out that this does not negate its narrative as a store of value, but it does mean investors should not expect it to hedge in every sell-off. Bitcoin remains a hybrid asset, with its role shifting according to macro cycles.
Elbert emphasized that, in the short term, several narratives and indicators are more important:
- Key price levels and positions: The $60,000–$65,000 range remains a significant psychological and technical zone, with low liquidity potentially amplifying overextension risks.
- ETF fund flow continuity: Whether outflows persist or stabilize will influence short-term price behavior, especially in choppy markets.
- Leverage and liquidations: Rapid liquidation of crowded positions often magnifies sharp movements.
- Correlation patterns: Bitcoin’s correlation with stocks tends to increase during risk-avoidance periods and recede once macro pressures ease. The key is how quickly this decline occurs.
Elbert stated that in the short term, investors should view Bitcoin as a macro-sensitive, high-beta asset and manage risk exposure accordingly. From a long-term perspective, the true drivers of value are adoption rates, market structure maturity, and whether institutional participation can stabilize over cycles.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC drops 0.75% in 15 minutes: quick pullback triggered by short-term position trimming and capital outflows
2026-04-14 16:45 to 17:00 (UTC), the BTC market saw a clear ups-and-downs move, with a 15-minute return of -0.75%. The price quickly dropped from the 74529.4 to 75233.4 USDT range, with an amplitude of 0.94%. During this period, trading volume increased by about 12% compared with the average of the prior hour; market attention rose, and volatility significantly intensified.
The main drivers of this sudden move were short-term holders collectively cutting positions and a large outflow of exchange funds. From 16:45 to 17:00, the net outflow of BTC was approximately 4,800 BTC
GateNews22m ago
Bitcoin Reclaims $76,000 as US March PPI Misses Forecasts
Bitcoin surged past $76,000 following lower-than-expected US Producer Price Index data for March 2026, which indicated a 4% year-over-year increase. The rise reflects strong market support despite declining leveraged positions.
GateNews1h ago
BTC 15-minute rise of 0.64%: a technical breakout of key resistance combined with weak liquidity amplifies volatility
2026-04-14 15:30 to 15:45 (UTC), BTC saw short-term fluctuations within the 74,795.5 to 75,319.3 USDT range, with a return of +0.64% and a range of 0.70%. During this period, market attention warmed up, volatility intensified, trading volume rose slightly compared with the previous hour, and short-term buy orders pushed the price upward quickly.
The main driver of this unusual move was BTC’s short-term technical breakout above the 74,000 USDT key resistance, which generated a long signal and triggered rapid responses from quantitative and programmatic buy orders. At the same time, because the order book depth has been rising since 2025
GateNews1h ago
Bitcoin Reclaims $75,000 for Second Time Since US-Iran Conflict, Up 7% in 24 Hours
Bitcoin surged to $75,000 amid rising U.S.-Iran tensions, adding $98 billion to its market cap and causing $500 million in liquidations. Technical analysts suggest that holding support above $67,000 could lead to an increase toward $80,000, despite highlighting $50,000 as a critical level if support fails.
GateNews2h ago
BTC 跌破 75000 USDT
Gate News bot 消息，Gate 行情显示，BTC 跌破 75000 USDT，现价 74993.6 USDT。
CryptoRadar2h ago
Goldman Sachs files a Bitcoin premium income ETF application with U.S. regulators
Gate News message, according to the submitted filings, Goldman Sachs has filed an application with regulatory authorities for a Bitcoin Premium Income ETF.
GateNews2h ago
