Crypto market range-bound amid geopolitical, monetary policy risks, says Bitunix

The cryptocurrency market is in a wait-and-see phase, influenced by geopolitical dynamics, the monetary policies of major economies, and global liquidity, according to an analysis by Bitunix. The firm noted that BTC is currently trading in a range between $58,060 and $61,931. Key variables at play include issues surrounding the independence of the U.S. Federal Reserve, energy supply chain risks from oil price volatility, the declining value of the Japanese yen, and the potential for monetary tightening by the Reserve Bank of Australia. Bitunix added that while a ceasefire trend continues in the Middle East, uncertainty persists. These combined factors are dampening the appetite for risk assets, the analysis concluded.