Bitcoin has fluctuated around $74,000 over the past 48 hours, while ETH, SOL, and XRP are also seeing significant losses. After the brief rally that followed the ceasefire news, the market came under pressure again. BTC still holds above $70,000, but honestly, that level also looks weak.

Although geopolitical tensions appear to have eased somewhat, uncertainty in the Strait of Hormuz and Brent crude approaching $97 are worrying investors. Central banks are also maintaining their tight stance, and that is weighing heavily on risk assets. For example, SOL has fallen by about 3.5% over the last 24 hours, and ETH has weakened similarly.

Meanwhile, a mining company has built a sizable position in Ethereum. Over the past six months, it has accumulated 4.87 million ETH and is currently the largest ether holder among institutional players. However, considering the performance of SOL and other altcoins, the overall market looks uneasy. I think this pressure could last for a long time, because interest rate expectations are likely to remain high.