$BTC Bitcoin is dropping, but the real movement may well come from elsewhere. While the market absorbs a rapid decline, some analysts are already betting on another driver: the massive return of liquidity from central banks. Behind the numbers, a global monetary dynamic is emerging, far more decisive than the ongoing correction. BTC is wavering, but the upcoming flow of capital could rewrite everything.
A correction and its immediate triggers
Bitcoin experienced a significant drop between March 26 and March 29. Indeed, the king of crypto fell from $88,060 to $82,036, a loss of 7% in just three days. This correction resulted in the elimination of $158 million in long positions, confirming an overheating of the derivatives markets and a high exposure to leverage.
Such a retreat comes as gold, a traditional haven during turbulence, reached a historic high of $3,087, triggering a new wave of comparisons between the precious metal and bitcoin.
The key highlights of this correction include:
A strong liquidation in the derivatives markets, with over $158 million in long losses;
A reversal of the safe-haven dynamic, with gold in record progress while BTC was declining;
A potential challenge to the 'digital gold' narrative, due to this temporary decoupling.
This technical pullback, although spectacular, takes place in an atmosphere of anticipation before major monetary policy announcements. It also exposes a structural fragility related to investors' excessive confidence in the futures markets.
Bitcoin could drop to $65,000… But a wave of liquidity is coming!
Bitcoin is dropping, but the real movement may well come from elsewhere. While the market absorbs a rapid decline, some analysts are already betting on another driver: the massive return of liquidity from central banks. Behind the numbers, a global monetary dynamic is emerging, far more decisive than the ongoing correction. BTC is wavering, but the upcoming flow of capital could rewrite everything.
Symbol of the swirling Bitcoin, pulled down. A giant stylized hand (in orange) reaching upward from the whirlpool, ready to save it.
A correction and its immediate triggers
Bitcoin experienced a significant drop between March 26 and March 29. Indeed, the king of crypto fell from $88,060 to $82,036, a loss of 7% in just three days. This correction resulted in the elimination of $158 million in long positions, confirming an overheating of the derivatives markets and a high exposure to leverage.
BTCUSDT chart by TradingView
Such a retreat comes as gold, a traditional haven during turbulence, reached a historic high of $3,087, triggering a new wave of comparisons between the precious metal and bitcoin.
Gold has experienced an uninterrupted upward trend since mid-February, while bitcoin is now going against the current.
The key highlights of this correction include:
A strong liquidation in the derivatives markets, with over $158 million in long losses;
A reversal of the safe-haven dynamic, with gold in record progress while BTC was declining;
A potential challenge to the 'digital gold' narrative, due to this temporary decoupling.
This technical pullback, although spectacular, takes place in an atmosphere of anticipation before major monetary policy announcements. It also exposes a structural fragility related to investors' excessive confidence in the futures markets.
Long positions on BTC, massively fueled by recent rallies, were swept away in a brutal readjustment movement. This correction phase, far from signaling a fundamental trend, could thus represent a breath in an even broader cycle dictated by global economic policies.
Monetary leverage, a potential catalyst for the next impulse
In the face of this volatility, some analysts adopt a decidedly different perspective. For them, this drop in bitcoin may just be simple background noise in a broader environment where flexible monetary policies are about to take center stage.
Arthur Hayes, former CEO of BitMEX, notably defends the idea that the current correction is 'insignificant' compared to what he describes as an 'upcoming tsunami of liquidity.' In his analysis, he states, 'It's not the drop to $60,000 that worries me. What matters is that central banks, starting with the Fed, are going to restart monetary printing.'
On the X platform (formerly Twitter), analyst Mihaimihale stated on March 10, 2025, that 'tax cuts and a decrease in interest rates are necessary to revive the economy.' Furthermore, he believes that the growth of the previous year was mainly based on unsustainable public spending in the long term. Alexandre Vasarhelyi agrees with this sentiment but nuances the short-term impact of financial innovation. According to him, 'whether it's $77,000 or $65,000, it doesn't matter: the story is one of still embryonic growth.'
Macroeconomic signals seem to reinforce this hypothesis. According to the CME FedWatch Tool, the probability that the Federal Reserve lowers its benchmark rate to 4% or less by the end of July has risen to 50%, compared to only 40% the previous week.
This anticipation of a rate cut comes with increasing pressure for monetary stimulus measures, as global growth shows signs of slowing down.
Moreover, political initiatives such as the U.S. executive order on the establishment of a strategic reserve of bitcoin or the tokenization of real-world assets (RWA) led by major institutions such as BlackRock reinforce the idea of an increasing integration of bitcoin into long-term economic strategies.
If this scenario is confirmed, the current contraction of the crypto market could be quickly erased by a recovery fueled by the influx of capital. Bitcoin's ability to reposition itself as a store of value in the face of inflation could be strengthened by this new injection of global liquidity. In the longer term, these dynamics could also stimulate institutional investors' appetite for crypto-backed products, consolidating bitcoin's place in the global financial universe.
