The Bitcoin (CRYPTO :BTC), l’Ethereum (CRYPTO :ETH) et and XRP (CRYPTO:XRP) are moving in narrow ranges as cryptocurrency markets remain uncertain, with no clear confirmation of a trend reversal.
A short-term rebound, overall weak momentum
In a March 31 podcast, trader Cryptoinsightuk said a near-term rebound is possible, but overall momentum remains weak as markets await a decisive move. He highlighted macroeconomic pressures, including weak stocks, inflation concerns and geopolitical tensions, as factors contributing to the lack of direction.
Despite this, many assets are located near historically attractive value areas, leading one to believe that a gradual accumulation of spot positions is reasonable.
Bitcoin is showing signs of a potential accumulation structure, with its weekly Relative Strength Index entering oversold territory, a level that has historically coincided with major lows. However, the low volume and lack of bullish confirmation suggests that the market is still in the consolidation phase.
Ethereum looks a little stronger, as it holds its range and attempts to form a higher bottom, making it a more constructive setup for accumulation, unless key support levels are breached.
XRP remains largely inactive, moving sideways in a parallel channel, with expectations of a possible breakout, although a further decline cannot be ruled out in the short term.
Liquidité – Rôle clé
Cryptoinsightuk noted that the near-term outlook remains uncertain, but traders believe a broader uptrend could emerge if liquidity returns and supports a risk-friendly environment.
In a March 30 post on Japan’s long-standing low interest rate regime has supported global markets by allowing cheaper borrowing.
As liquidity tightens, global investors who borrowed yen to finance riskier investments could reverse those positions and withdraw their capital from the markets. This reduction in global liquidity generally weighs on risk assets such as Bitcoin and altcoins, with the latter often experiencing steeper declines due to their more speculative nature.
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