The crypto market has shown relatively flat movement over the past 24 hours. Major assets such as Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE) recorded no significant price changes. This condition comes amid rising geopolitical tensions involving Iran, which have also affected global market sentiment.
In general, when geopolitical uncertainty emerges, investors tend to adopt a more cautious approach toward risk assets, including cryptocurrencies. Such situations may lead to lower trading volumes and prices moving within a limited range, or sideways. This phase is often referred to as a consolidation period, when the market waits for a new catalyst before determining its next direction.
Bitcoin Resistance Level in Focus
In technical analysis, resistance refers to a price level considered a temporary upper boundary where selling pressure tends to increase. For Bitcoin, the area around $67,400 is viewed as an important resistance level to watch.
As long as the price remains below this area, Bitcoin is considered to still be in a consolidation phase. If the resistance level is successfully broken with sufficient trading volume, it could open the door to further upward movement. However, if the breakout fails, prices may continue to move within a narrow range.
Ethereum is currently trading in the high-$1,900 range and has reportedly shown signs of accumulation by several large holders (whales). Accumulation activity generally refers to an increase in asset holdings over a certain period.
Altcoins Remain Limited
Beyond Bitcoin and Ethereum, XRP and Dogecoin have also recorded relatively stable price movements. XRP is trading around $1.41, while DOGE is hovering near $0.098. The absence of sharp price spikes suggests that the market remains in a wait-and-see mode.
It is important to understand that the crypto market is highly influenced by global sentiment, including economic and geopolitical factors. Therefore, short-term price movements can change quickly. Investors are encouraged to understand the risks, conduct independent research, and consider strategies aligned with their respective risk profiles before making investment decisions.
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