#bitcoin
#Bitcoin is in that nomansland area.
If Oil goes up --> risk-on assets go down.
If Oil goes down --> risk-on assets go up.
Essentially nobody, and especially the markets, don't want to take any risk at all and that's why this equilibrium continues to last.
In order to have a reversal on any market momentum, you kind of want to see some form of acceleration, as breaking through certain levels (either direction) will activate trading.
This doesn't need to come from Bitcoin per se, this can easily be done through a ceasefire in Iran, therefore Oil to come down, therefore Nasdaq to go up --> therefore asset managers allocating assets towards Bitcoin as the perspectives have changed.
Until then, there's essentially not much happening, but looking at the markets from a technical standpoint, I wouldn't be surprised by another sweep downwards before we reverse up.
It would also help, as then all the long side liquidity has been taken and there's enough power and orders to move the markets actually upwards.
