Crypto snoozes into Good Friday as oil and macro stir: Crypto Daybook Americas
Bitcoin remains stable ahead of Good Friday as geopolitical tensions and rising oil prices impact market sentiment and inflation expectations.Summary
Bitcoin is trading in a narrow range near $66,600 as the Good Friday holiday approaches, with geopolitical tensions, particularly concerning Iran, and surging oil prices influencing market dynamics. Brent crude has reached $120 per barrel, increasing inflation expectations and potentially hindering prospects for interest rate cuts, which have recently supported Bitcoin's rally. Despite consistent institutional inflows into Bitcoin ETFs, totaling $22 million this week, data indicates that larger holders are distributing their holdings. Liquidity is expected to be thin over the long weekend, leaving Bitcoin vulnerable to volatility stemming from Middle Eastern developments or macroeconomic announcements. Key economic data releases are scheduled for April 3rd, including U.S. Nonfarm Payrolls and Unemployment Rate.
(Source：CoinDesk)