Bitcoin fell nearly 5% this week due to the impact of the US-Israel-Iran war, with the S&P 500, Dow Jones, Nasdaq, and gold all declining, while crude oil rose 7.3%, a 53% increase since the war began on February 28. A Kobeissi Letter report stated that the S&P 500 ETF and Nasdaq 100 ETF saw a combined outflow of $64 billion over the past three months, a record high, representing approximately 5% of total assets under management. The spot Bitcoin ETF also recorded a net outflow of $253 million in the past two days. Glassnode data shows that the market struggled to absorb selling pressure, with net profit-taking in Bitcoin accelerating to approximately $17 million per hour at one point, but subsequently losing momentum, and the price fell back below $70,000. Analysts point out that geopolitical uncertainty has compressed market demand depth, making even a medium-sized sell-off difficult to absorb. Historical experience shows that Bitcoin's price action is repeating itself, similar to that during the Russia-Ukraine war: an initial sell-off followed by a short-term rebound, but then continued downward pressure. Analysts believe that rising energy costs, tight liquidity, and continued pressure from forced selling will make Bitcoin's recovery take longer. Finish predicts that Bitcoin may bottom out around $55,000 before gradually rebounding, but the market remains cautious until the conflict with Iran subsides. (Cointelegraph)