Bitcoin is under pressure, and this time it’s not because of one single reason.

As of now, BTC is trading near $70,500, down 7% in a day and over 20% this week. The market feels nervous, and there are clear reasons behind it.

First, global tension played a role. Rising conflict between the US and Iran pushed investors toward safety. When fear rises, money usually moves into the US dollar. Since Bitcoin trades 24/7, it reacted immediately during low-liquidity weekend hours.

Second, the US dollar got stronger after news around Kevin Warsh being seen as the next Federal Reserve Chair. Markets read this as a sign of tighter money ahead. Crypto does well when liquidity is high, so even the idea of less liquidity hits sentiment hard.

Third, liquidity is still weak. Order books across exchanges are thin, spreads are wide, and big sell orders move price faster than usual. When depth is low, even normal selling feels violent.

On top of that, Bitcoin ETFs saw heavy outflows. About $272 million left in a single day, pushing total assets below $100B for the first time in months. While long-term holders haven’t panicked, this kind of flow adds pressure in the short term.

From a price view, Bitcoin is now below the average ETF cost near $84K and sitting close to an important support zone around $69K–$70K. This area matters. If buyers defend it, we may see a relief bounce. If not, the market may look much lower before confidence returns.

For now, sellers are in control.

The real question is simple: does $70K hold, or does fear take over?

Calm, patience, and clarity matter most here.