Bitcoin is holding steady within a trading range. The market's focus is now on central bank pol

QCP: BTC Stuck at $74K—Macro Takes the Wheel as Rate Cuts Fade, Oil Holds Near $100

Bitcoin is treading water. QCP Capital notes BTC is stuck around $74,000, consolidating in a range with little upside momentum. The broader crypto market is under pressure, but drawdowns are milder than in other macro-sensitive risk assets. On-chain shows some dip-buying at range lows, but spot volumes are thin. Macro is calling the shots now.

This week is packed: Fed Wednesday, then ECB, BOJ, and BOE on Thursday. With oil near $100, rate-cut expectations have been slashed—draining macro support for crypto. Geopolitical risks aren't going away, and stagflation chatter is back.

QCP's take: BTC isn't acting like a pure risk asset, nor is it seeing steady safe-haven flows. Until the policy path and geopolitical fog clear, expect more range-bound action.