Bitcoin (BTC) is holding steady near the $62,000 price level. The asset’s price remained unchanged on the daily chart, but rose by 5.5% on the 14-day chart. BTC could enter a sideways trajectory as the downtrend slows. While the consolidation may bring some peace of mind to investors, it could lead to increased volatility in the coming days. Let’s discuss why.
Will Bitcoin price consolidate at $62,000 and then fall?
The price of Bitcoin (BTC) rose to the $82,000 level in May after the United States and Iran held talks on a potential peace deal. However, no agreement was reached. The recent escalation of the Middle East conflict is likely the cause of Bitcoin (BTC)’s decline.
Bitcoin (BTC) may face increased volatility in the coming days. Oil prices soared after the US launched a new offensive against Iran. This development is likely to put pressure on the larger economy. The US inflation rate rose to 4.2% in May. The Fed has decided to keep interest rates on hold, but further economic pressures could lead to rate hikes. Bitcoin (BTC) could take a hit if interest rates rise, as investors often take less risk when interest rates rise.
Bitcoin (BTC) ETFs (exchange traded funds) have also slowed down in recent days. According to Farside Investors, BlackRock sold $180.5 million worth of BTC on July 13, 2026. Retail investors may also follow BlackRock’s trajectory, potentially increasing selling pressure on the market.
There is one silver lining that may bring some relief. The United States may be on the verge of passing the long-awaited CLARITY Act. This law aims to provide greater regulatory clarity and protection for investors. If this law is passed, there is a possibility that inflows into the cryptocurrency market will increase. Under these circumstances, Bitcoin (BTC) may rise.
