Bitcoin this week experienced an interesting fluctuation. After Trump's statement that the trade deficit has decreased by 78%, the market fluctuated between 65,000 and 67,000 dollars. Then the price rose to approximately 73,000 dollars but is still under the influence of macro factors. In fact, at this point, Bitcoin's price movement depends more 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 also 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 about 29.4 billion dollars, showing the effect of tariffs. However, some analysts say that part of this is due to changes in gold flows. If this 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 decreased to 400 million dollars per day, indicating that forced sales have diminished. The profit-loss ratio has risen to 1.4, meaning market conditions are improving, but interest expectations still control everything.