Analyst: Bitcoin Sentiment Remains Fragile Due to Geopolitical Uncertainty

Jakarta (ANTARA) - Tokocrypto analyst Fyqieh Fachrur assesses that the sentiment surrounding Bitcoin’s price movements is still showing significant pressure due to rising geopolitical uncertainties.

This follows US President Donald Trump’s speech on the Iran conflict, which provided no clarity on the direction of de-escalation.

“The market had previously anticipated the possibility of conflict de-escalation, so most of the positive sentiment was already reflected in the price. When Trump’s speech offered no certainty, market participants chose to reduce risk. This is evident from the dominance of distribution volume and the decline in open interest in the derivatives market,” Fyqieh stated in Jakarta on Thursday.

After holding steady around $68,000 ahead of the speech, Bitcoin instead corrected to around $66,000, in line with the global market’s negative reaction to the potential escalation of the conflict.

The Cumulative Volume Delta (CVD) indicator shows dominance of selling pressure throughout the trading session, while the On-Balance Volume (OBV) indicates asset distribution, where market participants used the price rise to exit positions rather than increase exposure.

Market sentiment has become even more pressured after Trump stated that the US will intensify attacks on Iran in the next two to three weeks, without providing a clear timeline for the conflict’s end.

As a result, oil prices surged more than 5 percent, sparking global inflation concerns, while the strengthening US dollar and rising bond yields pressured risk assets, including cryptocurrencies.