Just observed: Bitcoin has come under pressure in the past few hours and is currently trading around $72,700. What's going on?

Two factors seem to be at play. On one hand, new inflation data from the US today shows weaker-than-expected numbers — which unsettles the markets. On the other hand, tensions in the Iran conflict have risen again, which traditionally leads to risk-off movements. Whenever such tensions escalate, capital tends to flee from risky assets.

Interestingly, Bitcoin remains relatively stable — we haven't fallen into the abyss yet. The inflation data from the US today shows weakness, but that could be positive in the long run. If the Fed becomes less aggressive, it could attract buyers again later.

However, momentum is definitely negative. Let's see if we can observe a bottom formation here or if the price continues to decline next week. Geopolitical risks remain the biggest question mark for the coming days.