Analysis: Bitcoin's resilience against declines demonstrates market resilience, macro-level shifts are underway, but geopolitical uncertainties still exist

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Odaily Planet Daily reports that Bitcoin has surpassed $72,000. Despite tense Middle Eastern tensions and ongoing geopolitical risks, the overall performance of Bitcoin and the crypto market remains resilient. Market rumors suggest that the U.S. and Iran may begin ceasefire negotiations as early as this Thursday. Oil prices, U.S. Treasury yields, and the dollar index have pulled back slightly. Bitcoin and U.S. stock futures continue to stay strong. However, the market remains cautious about a rapid easing of tensions. ING analysts note that Iran may prefer to keep energy prices high before negotiations to strengthen its bargaining position. Therefore, a significant drop in oil prices and a weakening dollar in the short term are unlikely. On the macro level, there is a shift: the U.S. money market curve has largely priced in this year’s rate cuts, tightening expectations from the previous forecast of at least two 25 basis point cuts. This change weakens the key bullish support for risk assets like Bitcoin. (CoinDesk)

BTC2.6%
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