I just noticed Bitcoin is again dropping below $72K today, down about 1.5% in the last 24 hours. But looking at the weekly chart, it's still a solid 7% increase over the week. It seems the same pattern keeps repeating - a rally midweek that drops again over the weekend.

What’s causing the pressure now is the combination of tight interest rate conditions from the Federal Reserve and a very strong dollar. This week, the dollar rose the most in a year, which immediately weighs on all risk assets including crypto. The tight interest rate environment is causing investors to move into cash.

On-chain data also shows that 43% of Bitcoin supply is now in a loss position. So every time there's a rally, people who have been holding for months immediately sell to break even. That’s what caused $74K to not hold up yesterday.

But there’s one positive signal – stablecoin inflow surged 415% to $1.7 billion this week. It means there’s capital ready outside the market, just waiting for the right momentum. With the interest rate environment still uncertain, it looks like the market is holding off until there’s clarity from the Fed.