Crypto: Macro Headwinds Test Bitcoin As $70k Support Wavers Amid Us Volatility

Bitcoin bulls’ attempt to break above $70,000 stalled after a key US macroeconomic “fear” metric broke a critical threshold. Is a revisit to BTC's yearly lows back in play?

Bitcoin (BTC) price continues to compress under $70,000 on Tuesday, and data suggests that the risk of new year-to-date lows remains if bulls fail to turn the level into support.

The whipsaw nature of Bitcoin’s price surged as US market volatility climbed back above a critical level, and Treasury yields saw their sharpest weekly drop in months.

Analysts suggest this macro backdrop may hint at an extended slowdown phase for BTC price, while onchain data shows traders still waiting for a stronger bullish catalyst.

The CBOE Volatility Index at 22.50 signals a rising market volatility and risk-off positioning for investors.

The US 10-year yield is at 4.02%, nearing its 200-day moving average trend for the first time since March 2022.

The CBOE Volatility Index (VIX), which measures the 30-day volatility expectations in US equities, has climbed to 22.50 in 2026 and is approaching its highest level since November 21, 2025.

A rising VIX typically reflects the growing uncertainty and reduced appetite for risk assets, a “risk-off” setup that has historically pressured Bitcoin.

For context, the chart shows a repeated inverse pattern between Bitcoin and the VIX around the 20 level. When the VIX spiked above 20 in December 2024, BTC formed a top at $104,000. A stronger surge above 25 in March through April 2025 aligned with a sharp BTC correction to $80,000.

Another move above 20 in Q4 aligned with Bitcoin’s cycle high near $126,000, and BTC’s drop below $100,000 also came as the VIX spiked above the threshold.

Source: CoinTelegraph