Crypto market recap: Bitcoin shows risk-asset behavior during geopolitical shock

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Crypto market recap

Highlights

BTC trades near $67,883, up 7.3% weekly, with market cap at $1.35T.
Analysts suggest potential bottom formation, but no confirmed trend reversal.
Geopolitical tensions and new tax proposals in Turkey add uncertainty.

The Fear and Greed Index has risen to 20, remaining in the “fear” zone but improving compared to previous readings. Ethereum is holding near $1,991 (+2.38% in 24 hours), XRP is trading around $1.36 (+0.82%), and BNB is near $631 (+2.11%). Solana shows stronger momentum at about $85.6, up nearly 11.6% over the week. Trading volumes remain elevated, indicating a return of liquidity after the recent sell-off. Despite the rebound, the market has yet to show signs of a sustained bullish impulse.

Analysts on potential bottom formation

The head of VanEck stated that BTC may be in the process of forming a market bottom after a prolonged correction. Analysts point to weakening downward momentum and reduced selling pressure. In their view, recent price action reflects a decline in aggressive selling and a gradual recovery in demand.

However, there is no confirmed trend reversal yet, as the price remains below key resistance levels from earlier this year. Additional uncertainty stems from macroeconomic risks and geopolitical tensions. XRP and SOL react more quickly to shifts in sentiment than BTC, displaying higher volatility. BNB maintains relative resilience due to internal ecosystem activity.

Geopolitics and regional pressure factors

Following the recent escalation in the Middle East, crypto transfer volumes from Iran increased, which analysts attribute to attempts to preserve capital. On-chain activity rose, particularly in BTC and stablecoins. This heightened short-term volatility and triggered position liquidations. Additionally, Turkey introduced a proposal to impose a 10% tax on income from crypto transactions.

The draft law also includes provisions for raising the rate and imposing additional fees on service providers. Turkey remains one of the region’s largest crypto markets, so such measures could impact local liquidity. Regulatory uncertainty increases investor caution and slows institutional capital inflows.

BTC, XRP, SOL, and BNB: levels and scenarios for the coming weeks

BTC is holding above the $66,000–67,000 range, which now serves as a key support zone. To confirm a reversal, the market needs consolidation above February’s local highs and rising volumes. XRP maintains support above $1.30 but remains sensitive to overall market sentiment.

SOL shows the strongest weekly performance among top assets, though its volatility remains high. BNB continues to move more moderately, reflecting balanced demand within its ecosystem. If current liquidity conditions persist, the market may enter a consolidation phase before a new impulse. For now, the outlook remains mixed: there are signs of stabilization, but no confirmed bullish trend yet.

Recently we wrote that the U.S. Senate has advanced a bipartisan housing reform package that includes a provision temporarily prohibiting the issuance of a central bank digital currency (CBDC).

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