Man, Bitcoin is doing that classic pump and dump move. Tried to break $70k again and couldn't. Now it's hovering around $74.35k, but it's weaker than it looks. The problem is that South Asian markets are a total mess with the situation in Iran.

Altcoins took a hit for real. Solana dropped 3.28% in 24 hours and is down 1.44% for the week. Cardano plummeted, -2% yesterday and -8.55% over the last 7 days. Dogecoin is also in the red. Only BNB is holding steady, practically flat for the week. XRP is also holding up well.

What’s happening is that Asian stocks, especially South Asian ones, are in free fall. South Korea had the worst decline in days since 2008, Japan and Taiwan falling along with it. Tech markets in South Asia retreated 4%. Meanwhile, oil keeps climbing because the Strait of Hormuz is basically closed. That’s pushing gold up and tightening liquidity on risk assets.

Analysts are saying that Bitcoin’s critical support is around $63k. If it doesn’t hold there, things get ugly. Everything depends on how ETFs will perform this week. SpaceX is holding 8,285 BTC on Coinbase Prime, but that’s nowhere near enough to sustain the market if macroeconomic pressure continues.

The pattern I see is this: weekend recovery, but nobody can keep the highs. Market is on hold, waiting for clarity on the geopolitical situation. Meanwhile, South Asia is the epicenter of the drop, dragging everything down with it. I’ll be watching the next moves of BTC and ETF flows.