Bitcoin experienced an interesting fluctuation this week. Following Trump's announcement that the trade deficit has decreased by 78%, the market fluctuated between $65,000 and $67,000. Then the price rose to around $73,000 but is still under the influence of macro factors. In fact, at this point, Bitcoin's price movement is more dependent on interest rates and the strength of the dollar than on anything specific to the crypto market. When tariffs are discussed, the market begins to price in higher and longer-term interest rates. This strengthens the dollar and puts pressure on risk assets like Bitcoin. The sensitivity of BCH and other altcoins to interest rates is similarly high. At the beginning of January, the trade deficit dropped to approximately $29.4 billion, reflecting the impact of tariffs. However, some analysts say that part of this is due to shifts in gold flows. If the tariff story does not turn into political noise and financial conditions do not tighten, Bitcoin rallies could continue. But right now, traders are mostly watching macro indicators. Realized losses have dropped to $400 million per day, indicating a decrease in forced sales. The profit-loss ratio has risen to 1.4, meaning market conditions are improving, but interest rate expectations still dominate everything.