Crypto Market Cautious Amid Geopolitical Tensions

The global crypto market is experiencing a period of caution due to rising geopolitical tensions. The recent decision by Iran to reclose the Strait of Hormuz has reintroduced uncertainty into global markets, prompting traders to lock in recent gains and engage in profit booking.

Despite the pressure, both Bitcoin and XRP are holding onto key support levels, with Bitcoin trading within the $70,000-$71,000 range and XRP consolidating near $1.30-$1.33. The underlying structure of both coins is shifting towards accumulation rather than distribution, indicating a potential for breakouts once resistance clears.

On-chain data suggests that peak sell pressure has already been absorbed in both Bitcoin and XRP, with early signs of demand returning. This combination indicates that while the market is consolidating, the next move could define short-term direction.