📊 Analytics firm lists short-term expectations for Bitcoin price!

The recent upward momentum that pushed Bitcoin past $76,000 has weakened.

After a rapid surge, Bitcoin has pulled back to the $72,000 level, according to a latest analysis released by Singapore-based analytics firm QCP Capital.

QCP Capital states that Bitcoin is trading in a narrow range between $73,000 and $74,000, affected by macroeconomic and geopolitical uncertainty, particularly the U.S.-Iran conflict.

At this time, QCP Capital believes that Bitcoin lacks the upward momentum to break through local highs following the recent rally.

On-chain fund flows indicate buying pressure at the lower end of the range, but spot trading volume remains relatively low.

Analysts point out that although Bitcoin and the crypto market are under pressure from this data, losses are relatively limited compared to declines in other macro-sensitive risk assets.

On the other hand, the options market maintains a stable but defensive stance.

Analysts note that the 30-day implied volatility (IV) remains around 50% (above actual volatility), supporting options sellers.

From a macroeconomic perspective, this week proved to be extremely important for central banks.

The Federal Reserve announced its decision in March today, followed by the European Central Bank (ECB), Bank of Japan (BOJ), and Bank of England (BOE) on Thursday.

With interest rate decisions approaching, oil prices near $100 per barrel have significantly reduced market expectations for Fed easing, thereby complicating the interest rate cut question.

Analysts point out that this means the same thing for cryptocurrencies: the interest rate environment has become less supportive rather than more supportive.

In the current environment, Bitcoin is viewed not only as a high-beta risk asset but also is not yet considered a stable safe-haven asset.