Bitunix Analyst: Mismatch Between Energy Controls, Monetary Tightening, and Escalating Warfare Leads to Liquidity Squeeze

According to Mars Finance, on March 26th, the global market was simultaneously experiencing three conflicting developments: On one hand, the US eased restrictions on E15 gasoline and accelerated its acquisition of oil and gold resources from Venezuela, indicating its attempt to suppress energy prices and rebuild supply chain dominance; on the other hand, rising interest rate expectations in Japan and a global bond sell-off suggested that the market had begun to repric the path of inflation and policy tightening; meanwhile, the situation in the Middle East not only failed to ease but continued to escalate militarily under the guise of negotiations, with the US military actually increasing its troop presence and Iran responding strongly, further spilling over risks related to energy transportation and control of the Straits. This combination of "suppressing energy prices + tightening liquidity + amplifying geopolitical risks" is essentially undermining the original pricing framework: energy is being politicized, interest rates have lost their expectation of easing, and safe-haven assets (gold) are being mobilized by real entities rather than simply traded, representing a shift in funds from financial assets to physical and strategic resources, and global liquidity entering a phase of redistribution rather than expansion. For the crypto market, BTC is no longer the dominant narrative but passively reflects whether funds are willing to take on risk. From the liquidation heatmap, the current price is locked in a range of approximately $69,000–$72,000. The $72,000 area shows high density of short positions and liquidation accumulation, forming a core short-term resistance level. Conversely, the $69,000–$72,000 area shows continuous liquidity absorption and long position accumulation, forming passive support. The overall structure presents a "two-way standoff," with price fluctuations essentially driven by liquidation rather than trend. Before macroeconomic uncertainties are resolved, the market is unlikely to form a one-sided pricing logic. BTC is more likely to remain within the high-liquidity zone, undergoing repeated squeezes and liquidations to redistribute its holdings. The true directional choice will depend on whether three factors change simultaneously: whether energy becomes uncontrollable, whether interest rates are confirmed to tighten, and whether the Middle East shifts from a "threat" to a "de facto blockade."