🥀Market Sentiment
The main pressure on the markets right now is the situation in the Middle East😵: strikes on energy infrastructure continue, oil prices are rising, and the end of the conflict is not in sight yet.
This is compounded by the tough rhetoric of Fed Chair Powell - due to rising prices and persistent inflation, a rate cut should not be expected. Markets are already pricing in a maximum of one cut this year, while some large banks are even predicting no change at all.
In such moments, BTC traditionally gains the status of a "safe asset" - and it seems this role is relevant again. Crypto is holding up better than most risk assets: Bitcoin has once again settled above $70k.
Making confident predictions is difficult right now - the situation can change at any moment. As long as geopolitical uncertainty persists, BTC will most likely continue to move within the current range.
Manipulations and pumps in altcoins are not going anywhere, so be careful❗️