Bitcoin (BTC) price holds above a make-or-break level before Warsh confirmation hearing

Bitcoin's price is currently trading above the critical $75,000 threshold, a level identified as crucial for maintaining bullish control. However, caution is advised as this level needs to be sustained through Wednesday, coinciding with the potential end of the U.S.-Iran ceasefire. Analysts at Marex warn that the market is pricing in two scenarios: an extension and de-escalation of the conflict, or renewed escalation leading to oil price stress. This uncertainty makes Bitcoin susceptible to rapid price shifts based on headlines.

Geopolitical tensions, particularly concerning Iran and potential conflict escalation, could significantly impact oil prices and global equity markets. The resilience of Bitcoin, which remained relatively stable around $70,000 during a previous conflict in March, is being closely watched. Additionally, the Federal Reserve chair nomination hearing for Kevin Warsh, known as an "inflation hawk," is scheduled for Tuesday. His remarks could influence markets, especially if they signal a shift in monetary policy.

In the broader cryptocurrency market, major altcoins like Ether and Solana have underperformed Bitcoin, while smaller tokens and the CoinDesk Memecoin Index have seen more significant gains. The DeFi sector experienced a notable hack of KelpDAO, impacting liquid restaking tokens and causing a substantial drop in the total value locked on platforms like Aave. The AAVE token has declined, and open interest in its futures has reached a record high, suggesting potential for increased volatility.

(Source：CoinDesk)