- Bitcoin (BTC) faced another rejection at the $64,000 resistance level, falling 1.7% in the last 24 hours.
- The asset’s price has declined nearly 50% from its October 2025 all-time high of $126,080.
- Analysts point to macroeconomic factors, geopolitical tensions, and a four-year price cycle as reasons for the current bear market.
Bitcoin (BTC) faced yet another rejection at the $64,000 level, with its price falling 1.7% in the last 24 hours and 3.7% over the past month, according to CoinGecko. The cryptocurrency climbed to an all-time high of $126,080 in October 2025, but has since fallen by nearly 50%.
The asset’s descent was triggered by an exodus of investors from the cryptocurrency market after increased macroeconomic worries and global geopolitical tensions. The US-Iran conflict led to further movement of capital away from high-risk assets.
Consequently, Bitcoin (BTC) tends to follow a four-year pattern, with new all-time highs occurring in 2017, 2021, and 2025. Going by that pattern, BTC could climb to a new peak in 2029, as the current bear market is part of its established price cycle.
Several factors need to align for Bitcoin (BTC) to reclaim the $70,000 price level. Inflation and macroeconomic factors are the primary catalysts that would pull retail investors back into the market.
Inflation may have gone down in June 2026, but the Federal Reserve is yet to announce an interest rate cut. A dip in interest rates could lead to investors taking on more risks, and Bitcoin (BTC) could benefit under such circumstances.
Meanwhile, the US may be on the brink of passing the CLARITY Act. The legislation aims to bring more regulatory clarity for the cryptocurrency sector and better investor protection, which could lead to a surge in investor confidence and more inflows.
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