The US pause in strikes on Iranian energy infrastructure contributed to a decrease in geopolitical tension and supported the cryptocurrency market, analysts at Wintermute stated. Against this backdrop, Bitcoin $BTC rose above $70,000, while prices for oil grade #Brent decreased.
According to experts, the decision to temporarily suspend strikes was a factor in reducing risks in the energy market and improved investor sentiment (leading to the liquidation of short positions in the crypto-assets market).
Experts also noted that news about the de-escalation of geopolitical tension quickly brought buyers back — Bitcoin recovered and tested levels above $71,000. According to them, Ethereum $ETH looked more confident against this backdrop. Inflows into ETH-ETF over the week amounted to about $160 million.
Wintermute noted that the key factor in the coming days will remain the situation around the Strait of Hormuz and the oil market. Possible scenarios: stabilization of supplies and a decrease in oil prices may support Bitcoin in the range of $74,000-$76,000; new disruptions or escalation could return the asset to the mid-range of $60,000; prolonged de-escalation opens the way for growth towards $80,000, provided that purchasing demand is maintained.
