Last week, Bitcoin temporarily rose due to tensions in the Middle East, but ultimately it fluctuated around $68,000. On Saturday morning, it seems to have recovered to around $72,190, but as a pattern over the past few weeks, selling pressure tends to come in during the weekends.

As major cryptocurrency news, Bitcoin has increased by about 2.3% in the past 24 hours, Ethereum by 2.61%, and Solana by 3.03%, but these movements are even stronger when viewed on a weekly basis. Bitcoin has risen by 8.38% over the week, and Ethereum by 8.45%, indicating that the momentum from reaching $74,000 in mid-last week is still ongoing.

However, the overall market decline factors cannot be ignored. The US dollar has recorded its largest weekly increase in a year, weighing heavily on risk assets across the board. Rising energy costs and inflation concerns have pushed back the Federal Reserve's rate cut outlook. Looking at on-chain data, 43% of Bitcoin supply is in a state of unrealized loss, which clearly contributes to selling pressure during rebounds.

On the bright side, inflows into stablecoins are surging, signaling that waiting funds are returning to the market. The next move depends on whether this capital flows into Bitcoin or if traders are waiting for prices to drop further.