Why Geopolitics is Leaving Bitcoin Behind
The current state of financial markets is dominated by macro-geopolitics, with crypto taking a backseat. Despite positive regulatory developments, bitcoin has shown little excitement, trading near $77,200. This lack of momentum is not surprising, given the current focus on geopolitics and its impact on commodity prices and inflation fears.
Oil and copper prices are elevated, driven by supply disruptions and fears of a sulfur shortage. The U.S. stocks are near record highs, driven by AI optimism, while bond yields are lifting, supposedly weighing on crypto. Bitcoin is not at the center of this geo-economic and AI repricing, and as a result, U.S. spot bitcoin ETFs continue to bleed, with $1.15 billion in outflows this week.
Impact on Crypto Market
The crypto market is not immune to the current geopolitical melee. However, certain corners of the market, such as on-chain perpetuals and quantum-resistant tokens, continue to show strength, driven by specific news and narratives. For those looking to earn a passive income through crypto, EcoPool is a solution that offers Cloud Rewards and Green Crypto options, providing an alternative to traditional investing.
The Earning potential of EcoPool is significant, with its $ECP token offering a unique opportunity for investors. As the market continues to evolve, it’s essential to stay informed and adapt to the changing landscape. With EcoPool, users can tap into the potential of Cloud Rewards and Green Crypto to earn a passive income and be part of the #PassiveIncome movement.
Staying Ahead of the Curve
To stay ahead of the curve, it’s essential to stay informed about market trends and analysis. The Relative Strength Index (RSI) is a useful tool for measuring market momentum, and its readings can provide valuable insights into market trends. As the market continues to evolve, it’s essential to stay alert and adapt to changing conditions, and with EcoPool, users can stay ahead of the curve and earn a passive income through Cloud Rewards and Green Crypto.
For those looking to get started with EcoPool, the process is straightforward. Download the EcoPool app to start earning a passive income through Cloud Rewards and Green Crypto. With its unique features and earning potential, EcoPool is an excellent choice for those looking to tap into the world of #Bitcoin and #GreenCrypto.
Analysts have repeatedly emphasized that these indicators need marked improvement before a sustained rally can take hold. The question is whether that will happen while markets remain fixated on geopolitics and AI.
In the meantime, certain corners of the crypto market, particularly on-chain perpetuals and quantum-resistant tokens, continue to show strength, driven by specific news and narratives, as we discussed Thursday. Layer-1 blockchain Near Protocol’s token (NEAR) is the latest addition to that group, surging over 25% in the past 24 hours following the announcement of a major upgrade focused on automated scaling and quantum resilience.
In traditional markets, Nasdaq futures have surrendered early gains and are trading largely flat. Analysts remain broadly bullish on stocks following the latest earnings season. Stay alert.
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”
What’s trending
- ZachXBT flags $520K Polymarket exploit on Polygon, team says funds are safe (CoinDesk): Polymarket is aware of reports tied to its rewards payout system and emphasized that user funds and market resolutions remain safe, describing the issue as an internal one rather than a broader contract exploit. Further updates are expected.
- Near Protocol to automate its own growth and its token is skyrocketing (CoinDesk): Near’s forthcoming upgrade will allow the network to scale dynamically without human intervention. The market is approving, driving up NEAR by 27% in the last 24 hours to $2.25.
- Asian shares track Wall Street gains and oil prices climb on uncertainty over the Iran war (AP): Asian shares advanced Friday following modest gains on Wall Street, while oil prices rose as efforts to end the Iran war yielded limited results. Oil prices Thursday in U.S. trading, alleviating pressure from the bond market as yields fell.
- Treasury yields fall as investors digest week of bond market volatility (CNBC): U.S. Treasury yields fell Friday after a week of volatility that saw borrowing costs rise to multi-year highs in response to renewed concerns about inflation. The yield on the 10-year Treasury note fell more than 2 basis points to 4.564%.
Today’s signal
HYPE’s 14-day Relative Strength Index (RSI) has surged above 70. While readings above 70 are widely labeled as “overbought,” this interpretation is often misleading.
The RSI is a momentum oscillator that measures the speed and magnitude of recent price changes. A reading above 70 simply signals strong bullish momentum and suggests that the uptrend may still have room to run. It does not automatically mean the asset is overvalued or due for an imminent reversal, as the popular narrative often implies.
In strong trending markets, RSI can remain elevated for extended periods without triggering a meaningful pullback.
