Related: Bitcoin more of a ‘diversifier’ than safe-haven asset: ReportBitcoin entered May with “near-flawless setup”Bitcoin kicked off May with a “near-flawless setup, catalyzed by a rare alignment of geopolitical de-escalation, improving regulatory optics and macroeconomic tailwinds,” according to Jag Kooner, head of derivatives at Bitfinex exchange.“The Russia–Ukraine ceasefire talks have defused one of the primary geopolitical volatility engines of the past two years,” Kooner told Cointelegraph, adding:“Rather than triggering capital flight from Bitcoin — as often seen when risk wanes — this easing is unlocking a risk-on rotation.
We’re seeing capital rotate into BTC and high-beta tech as the need for geopolitical hedging fades, but liquidity remains abundant.”The capital rotation reflects a “maturing narrative” as “Bitcoin is no longer just a fear hedge — it’s increasingly a high-conviction risk asset in periods of macro stability,” Kooner said.Source: Donald J.
Related: Ukraine strategic Bitcoin reserve bill reportedly in final stagesStill, funding rates need to remain neutral and open interest stable for a “consecutive setup” that may ignite a Bitcoin rally to above $114,000 to $120,000, which may be catalyzed by any “macro or regulatory spark,” Kooner said.
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Author / Journalist: Cointelegraph by Zoltan Vardai
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