The Bitcoin market has shown remarkable resilience in the face of macroeconomic uncertainty, holding steady despite declines in Asian markets and rising oil prices. According to analysts, the 24/7 trading nature of cryptocurrencies allowed investors to manage risks promptly while traditional markets were closed.
Domestic Research's Dominic John emphasized that cryptocurrencies quickly regained positions after local dips, with CoinEx's chief analyst Jeff Ko noting that Bitcoin remained around $66,000 even amid stock sell-offs in Asia. He believes the market viewed the price surge as a temporary phenomenon rather than a signal for a prolonged decline.
Macroeconomic pressure is building, however, with traditional markets opening in the red after the weekend. Japan's Nikkei 225 index lost about 2.5%, while the broader Topix fell nearly 3%. Hong Kong's Hang Seng and Singapore's Straits Times dropped by approximately 2%.
Oil prices surged to $78.9 per barrel, a rise of more than 8.38%. Gold also increased by 2.05% to $5386. Presto Research's Rick Maeda identified oil as a key conduit of macro shocks for the crypto industry, warning that if the price per barrel stabilizes above $90, it will heighten inflation expectations and strengthen the dollar.