Analysis of the Impact of Wars and Global Current Affairs on the Crypto Market:
Geopolitical tensions continue to be a dominant factor in the sentiment of the global financial market, and the cryptocurrency sector is no exception.
Risk Aversion: The prolonged war in Ukraine and the volatile situation in the Middle East (including recent reports of cyberattacks on Iranian exchanges) continue to fuel risk aversion. This leads many investors to seek refuge in assets traditionally considered safer, or simply to reduce their exposure to volatility, impacting the demand for crypto assets.
Economic Instability: Armed conflicts affect global supply chains, drive inflation, and create uncertainty about economic growth. In this context, central banks like the Federal Reserve maintain a cautious stance, with JPMorgan strategists predicting stable interest rates until the end of the year, which limits the flow of capital into higher-risk assets.
Digital Safe Haven Narrative: Although in theory $BTC could act as a "digital gold" in times of crisis, its current behavior shows a more marked correlation with the stock market, reacting to macroeconomic and geopolitical news with movements that reflect the overall global risk sentiment.
Key Movements in the Crypto Market:
Bitcoin Dominance: Bitcoin maintains its dominance in the market, at 65.75% of the total capitalization, while the ETH/#BTC ratio stagnates, indicating a possible delay in the "altcoin season."
The crypto market is in a "wait and see" phase, with attention focused on the evolution of global conflicts and upcoming economic data. Bitcoin's resilience around $104,000 USD is notable, but volatility could increase with any significant news.
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