So why is crypto down today? I see Bitcoin struggling again below 68K after rising to 74K a few days ago. Basically, looking at the chart, weekend patterns always involve selling that causes prices to fall. This week, Bitcoin is still up 8.5%, but the volatility is quite confusing.

The main issue is the US dollar which is very strong right now. This week, the dollar recorded its biggest increase in a year, directly impacting all risk assets including crypto. Plus, the expectation that the Federal Reserve will delay interest rate cuts, so investors prefer cash over crypto. The conflict in the Middle East also adds pressure because people immediately flock to the safety of the dollar.

Looking at on-chain data, 43% of Bitcoin supply is currently at a loss. That means every time there's a rally, holders who haven't broken even immediately sell to break even. That's why every time Bitcoin tries to rise, supply from those waiting for an exit opportunity appears. Ether dropped 2.7% in the last 24 hours, Solana down 3%, Dogecoin down 1.9%. Basically, everything is red in intraday trading.

But there's a positive side — the inflow of stablecoins has increased drastically this week, indicating that capital is ready outside the market. If sentiment shifts, that capital could flow back in and push prices higher. So the question now is whether investors will wait for prices to drop further or jump in at this level. Geopolitics remains a major factor, so crypto declines could continue until the situation stabilizes.