Bitcoin Retreats to $64.6K as Geopolitical Tension Sparks Profit-Taking

After a massive surge fueled by softer US inflation data, the crypto market is facing its first major reality check of the week. Bitcoin is struggling to cement its footing above the $65,000 threshold as macro tension and localized profit-taking collide. The question now is whether this pullback is a healthy pause in a new uptrend or the start of a deeper slide.

Live Prices

Prices are a snapshot as of publish time (July 16, 2026). Check the live chart below for where things stand now.

Bitcoin

Bitcoin is trading at $64,671, down 1.06% over the last 24 hours after opening near $65,364. This retreat comes directly after BTC pushed to a three-week high of $65.5K on the back of bullish CPI data. On-chain data reveals that two specific groups of investors began selling aggressively as prices approached $65,000, halting the upward momentum. If support near $64,000 fails to hold, the short-term bullish thesis will be temporarily invalidated.

Ethereum

Ethereum has dropped 2.55% to $1,881, retracing a portion of its recent CPI-fueled gains after opening near $1,930. Despite the dip, analysts note that the asset remains increasingly compelling as institutional interest quietly builds. The immediate challenge for ETH is reclaiming the $1,900 level to keep a potential breakout toward the $2,000 target viable by August.

My Read

I think this pullback is a temporary hurdle rather than a market reversal. My read on Bitcoin is bullish as long as we stay above $63,500 on a daily closing basis; I expect buyers to step in and absorb the profit-taking. For Ethereum, I am watching the $1,850 level closely as a major accumulation zone where I expect a strong bounce to resume the march toward $2,000.

Frequently Asked Questions

Why is Bitcoin price falling right now?

Bitcoin is pulling back due to a combination of geopolitical risk, specifically reports of Iranian attacks on U.S. bases, and heavy profit-taking by two groups of investors who sold as prices neared the $65,000 mark.

Is Ethereum still on track to hit $2,000?

While Ethereum has slipped to $1,881, the underlying market structure remains constructive. Analysts still view the asset as highly compelling, with $2,000 remaining the key breakout target once macro jitters settle.

What did BlackRock say about Bitcoin?

BlackRock’s CEO issued a surprise 12-month price prediction for Bitcoin and the broader crypto market, signaling strong long-term institutional conviction despite short-term macro volatility.