Bitcoin It recently caught a bid as investors changed their minds and bought the world’s most popular cryptocurrency. Although BTC is trading around $79,000, up significantly from last month, it is still below where it traded at around $88,000 at the beginning of 2026.
Nic Puckrinmacro analyst and co-founder Office CornerHe says the recent rise in Bitcoin price looks quite fragile.
Puckrin explains:
“Bitcoin’s brief recovery above $80,000 looks shaky. This is due to the decline in oil prices rather than strong buying, and Brent has returned below $110 on President Trump’s decision.” Project Freedom. But while this may have given Bitcoin breathing room for now, the two have been strongly inversely correlated throughout the war. If Brent rises above $110 again, the downward pressure on BTC will return in full force. “If Bitcoin fails to hold above $79,500 today, the chances of a meaningful upside will diminish.”
Puckerin says gold is losing momentum after a solid 2025. Year-to-date, gold is up 6.3%, but that rise will likely end for this cycle. While we acknowledge that momentum may return, “history suggests we are in for a few lackluster years.”
Puckerin also believes that the US dollar index has lost its safe-haven bid.
“The Iran war, which initially scared investors back into the dollar, is now having the opposite effect. Countries around the world, from South Korea to Taiwan, are trying to move away from dollar-denominated assets. Risks are to the downside for both assets.”
Regarding more traditional stocks, Puckerin notes that the US stock market is ignoring the conflict in the Gulf, but the AI trading that supports the markets is getting crowded.
“One sign of this that I’m watching for is random companies outside the sector turning to AI to rescue struggling share prices, including a Japanese toilet maker. This is eerily reminiscent of last year’s Bitcoin corporate treasury trend and could herald a massive sell-off. This is a signal that should make any investor very nervous.”
