$ETH Bitcoin remains stable as the macroeconomic environment becomes neutral but potentially favorable.
BTC remains near the $93,000 zone as the general macroeconomic context enters a phase of volatility compression. Markets in the United States, Europe, and Asia have traded within narrow ranges, with funds avoiding taking significant directional bets ahead of upcoming data releases. This type of compressed volatility often precedes larger moves, suggesting that the calm surface of BTC may mask sensitivity to any macroeconomic surprises.
The strength of the dollar has paused, with traders reassessing the timing of Federal Reserve easing. Weak forward inflation indicators have encouraged markets to estimate that rate cuts would come a bit earlier. A stagnant dollar eliminates a major headwind that contributed to recent BTC declines, allowing the cryptocurrency to stabilize even as stocks remain cautious.
Bond markets have sent mixed signals rather than convictions. Long-term yields have slightly decreased while short-term yields have remained firm, reflecting uncertainty rather than a clear macroeconomic narrative. BTC generally reacts better to a unified direction of yields, so today's indecision favors a wait-and-see approach rather than strong pressure.
Institutional flows have been selective rather than defensive. While cash-equivalent assets have still attracted flows, pockets of capital have shifted toward technology stocks and cryptocurrency-related equities. This shift indicates an improvement in confidence within a moderate rate environment, but not a large-scale risk-taking. For BTC, this creates room for a controlled recovery
