As Bitcoin hovers around $73,100, the overall market movement is quite interesting. Last week, due to tensions in the Middle East, the US dollar recorded its largest rise in a year, and it seems that impact is still ongoing.

Looking at the weekly chart, BTC has maintained about a 9% increase, but on the daily chart, there is significant selling pressure. On-chain data shows that approximately 43% of Bitcoin supply is in a loss position, which I think is causing sales to occur each time there's a rebound. Even last Thursday, when it reached $74,000, profit-taking sales pushed it back down.

On the bright side, there are also positive signs. There has been a sharp increase in stablecoin inflows. There are reports that inflows surged by 415% week-over-week, reaching $1.7 billion, indicating that standby funds are still ready to enter the market. Ethereum is at $2.25k, Solana at $84.88, Dogecoin at $0.09, BNB at $607, and XRP at $1.36. Looking at news related to these coins, it seems that while the macro environment remains tough, retail investors haven't completely disappeared.

As long as the US dollar remains strong and the Fed delays rate cuts, risk assets will face headwinds, but if tensions in the Strait of Hormuz ease, the trend could change suddenly. For now, it looks like the market will continue to fluctuate within the range of $68,000 to $74,000.