I just noticed Bitcoin is again falling below $68k this morning. After rising to $74k midweek, it’s now dropping again by nearly 3.4% in the last 24 hours. This pattern is starting to look repetitive, especially on weekends — it seems investors like to take profits before the week ends.

Looking at the weekly data, it’s still quite decent; Bitcoin is up 6.93% over the past week. Ethereum has increased by 7.93%, Solana dropped 2%, but BNB only rose slightly. However, the dollar is very strong this week, with the biggest appreciation in a year, which becomes a burden for crypto assets. Plus, there’s concern that the Fed might delay interest rate cuts, putting all risk assets under pressure again.

What’s interesting from on-chain data is that 43% of Bitcoin supply is now in a loss position. That means every time there’s a rally, people who have been waiting for months immediately sell to break even. That’s why the push to $74k yesterday couldn’t last long — supply keeps pressing down on prices every time they rise. This is what makes the weekend pattern feel more pronounced.

But there’s one positive thing — stablecoin inflows are surging again, up 415% last week to $1.7 billion. It indicates there’s capital waiting outside the market. The question is whether it will re-enter or wait for prices to drop further. With macro conditions still unclear and geopolitical situations ongoing, it seems the market is still in a wait-and-see phase for the next few days.