According to Mars Finance, Matrixport analyzed that market sentiment remains tense. However, due to the market's prolonged trading on the escalation of the Middle East situation, related risks have been largely priced in, with oil prices currently reflecting a geopolitical premium of approximately $8 to $10 per barrel. If the subsequent de-escalation of the conflict proceeds faster than widely feared, risk assets may experience a tactical rebound. From a technical perspective, after a large-scale position clearing, Bitcoin has not experienced further significant declines, demonstrating resilience. As the market enters a consolidation phase, the RSI continues to rise, and bullish divergence is gradually emerging. As long as this indicator maintains its upward trend, downward price momentum may be suppressed. This also means that continuing to increase short at current levels has a diminishing risk-reward ratio.
Analysis: Geopolitical risks have been partially mitigated, and Bitcoin's technical indicators show bullish divergence.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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