Bitcoin and the broader crypto market have endured weeks of prolonged unrest as macro pressures sent prices into a sideways decline. Total Crypto Market Cap stood at roughly $2.4 trillion at the time of writing.
Rising war tensions in West Asia have added a new layer of uncertainty, making the market increasingly unstable.
However, speaking to CoinHeadlines, eToro market analyst Josh Gilbert argued that the market can still weather the storm.
Oil shock, market chaos
Gilbert described the current environment as a headline-driven market where oil prices have become the central source of uncertainty, prompting investors to reduce the risk of crypto assets.
Key pressure points were directly affected, including the Strait of Hormuz and the energy infrastructure in the region.
“The main headline here, of course, is oil and oil prices, and that affects everything from rates to inflation,” he said.
In response, the Reserve Bank of Australia raised interest rates for the second consecutive meeting. The US Federal Reserve kept interest rates steady on March 25, keeping sentiment calm for now, but Gilbert warned this wouldn’t last long.
If we see oil-fueled inflation forcing the Fed to keep interest rates higher for longer, or even worse, to raise them again, I think Bitcoin and crypto will remain under pressure.
Crypto market and Bitcoin’s quiet stance
Despite the winds Bitcoin (BTC) There has been no significant decline since the conflict escalated.
Much of the previous selling pressure was due to the liquidation phase following the market event on October 10, 2025, and Bitcoin has held in a range of approximately $65,000 to $76,000 since then.
Gilbert added
I actually think the downside risk is much higher than what we’re actually seeing. Since this conflict began, Bitcoin has outperformed gold, outperformed the S&P 500 and the NASDAQ.
He credited the maturation of the market for durability.
It was a very different time then. We had no spot ETFs, no corporate treasuries buying billion-dollar positions, no sovereign wealth funds putting capital to work. However, today we have all three of these.
The recovery of ETF inflows after heavy outflows in February also strengthened his view. “This tells us that institutional demand is still there.”
What do the numbers tell us?
Bitcoin’s Spot activity provides a clear view of the broader market and is currently showing a holding pattern.
Spot holders form the long-term base of Bitcoin and do not use leverage. Their activities remained silent. Over the past 60 days, Spot Net Inflows have remained low compared to strong market phases.
The total savings during this period was only $4.99 billion. Without a stronger buy, Bitcoin could remain in range. The next move depends on how fundamental factors play out.
Final Summary
- The impact of the West Asian war on inflation could be the key factor deterring the cryptocurrency’s next rally, despite the market performing well so far.
- Bitcoin accumulation of $4.99 billion indicates weak demand, which is insufficient to sustain a sustainable rise of the market.
