Bitcoin maintained a narrow trading range amid rising war risks and delayed expectations of interest rate cuts.

According to ME News, on March 2nd (UTC+8), cryptocurrency exchange QCP Capital stated that Bitcoin is currently trading in a narrow range around $66,000. Tensions in the Middle East over the weekend briefly pushed the price down to a low of $60,000, but it subsequently returned to its recent trading range. Analysts noted that the initial drop triggered approximately $300 million in long liquidation, but this deleveraging is relatively mild compared to the disorderly sell-offs earlier this year and in 2025. Macroeconomic factors are also important; the expectation of prolonged tightening by the Federal Reserve keeps the opportunity cost of non-yielding assets high. Stephen Coltman, head of macro at 21Shares, stated that war has historically had an inflationary effect, pushing up commodity prices and widening fiscal deficits. Even if risk assets initially volatile, it could complicate the prospect of interest rate cuts. Amid escalating military conflict in the Middle East and uncertainty surrounding Federal Reserve policy, the cryptocurrency fear and greed index showed a reading of 15 on Monday, indicating "extreme fear." (Source: ME)