Over the weekend, Bitcoin dropped from $74,000 to around $68,000. As of Saturday morning, it was about a 3.4% decline. The price had been on an upward trend until midweek, but now selling pressure seems to be intensifying.

The dollar recording its largest weekly increase in a year is weighing heavily on risk assets overall. Tensions in the Middle East are driving up energy costs, reigniting inflation concerns, and there are expectations that the Fed will delay interest rate cuts. This combination creates the worst environment for cryptocurrencies. As long as the strength of the US dollar persists, Bitcoin's price will remain under pressure.

However, looking at the entire week, Bitcoin rose by 3.6%, and Ethereum increased by 2.6%. During the war shock in the middle of the week, they served as buying opportunities. Ethereum is around $2,320, Solana is about $83, Dogecoin is at $0.09, and BNB is near $615. XRP is also around $1.35.

On-chain data shows an interesting point: 43% of Bitcoin supply is currently in a state of unrealized loss. Every time the price rises, selling pressure emerges from those who have been waiting for a chance to sell over the past few months. This is also why $74,000 couldn't be maintained.

Meanwhile, inflows into stablecoins are surging. They increased by 415% week-over-week, reaching $1.7 billion. This suggests that waiting funds are on the sidelines of the market. The future key factors will likely be how the Middle East situation develops and how long the dollar remains bullish.