The ongoing conflict in East Asia casts a bearish cloud over both crypto and global markets, with tensions contributing to a 15% loss in the crypto industry's total valuation over three weeks, pushing Bitcoin below $63,000.

Net Outflows in Bitcoin ETFs Amid Market Turbulence

Against this backdrop, Bitcoin ETFs have witnessed negative net inflows for two consecutive trading days. Among them, only Grayscale Bitcoin Trust and BlackRock's IBIT saw any significant outflow or inflow, while others recorded zero net flows for the second consecutive trading day.

Bitcoin Halving: Hope Amidst Uncertainty

With uncertainty prevailing, attention turns to the potential impact of the upcoming Bitcoin Halving on BTC prices. Will the anticipated halving manage to revive the rally, and can it support predictions of Bitcoin reaching $100,000? Additionally, can Bitcoin Cash's performance amplify Bitcoin's jump, potentially bolstering predictions of a run to $1,000 for BCH?

Analyzing Bitcoin's Price Trends

The recent downturn in Bitcoin's price, dipping back to the $62,000 level, has put significant pressure on its underlying support trendline. The demand zone at $62,000 struggles to provide sufficient cushion for a reversal, with the bearish flag pattern in the daily chart indicating a potential drop below $60,000.

Bearish Sentiments Amid Geopolitical Tensions

Geopolitical tensions, particularly those between Iran and Israel, are exacerbating bearish sentiments in the market, casting doubt on the optimism surrounding the Bitcoin Halving. With selling pressure mounting and the threat of further downside, BTC's price could potentially plummet to levels below $60,000, with key support levels identified at $60,000 and $56,000 according to Fibonacci retracement.

Hope for a Revival

Despite the prevailing uncertainty, there remains a glimmer of hope that the Bitcoin Halving could reignite momentum, potentially pushing BTC price to challenge the resistance trendline at $70,000.

In conclusion, as geopolitical tensions continue to influence market dynamics, investors remain cautious, closely monitoring both the impact of the East Asia conflict and the upcoming Bitcoin Halving on crypto prices.