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$BTC hovered near $62,000 as three macro catalysts arrived in quick succession: a spike in oil prices, an escalating military conflict involving Iran, and traders positioning ahead of a Federal Reserve policy statement.
Futures market participants led the de-risking. The $62,000 mark is where the setup now sits. Three catalysts, one direction Oil and geopolitics moved first.
A spike in oil prices put risk assets on the back foot, and the escalating situation involving Iran added a second layer of uncertainty.
When energy prices surge alongside active geopolitical conflict, the reflex in futures markets runs one way. The Federal Reserve policy statement loomed as the third weight.
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