Traders advise Bitcoin bounce may constitute a 'bull trap'Amid macro risks, Merkle views that the current crypto rally may be driven more by short-term market dynamics than a sustainable shift in fundamentals. The move has sparked debate over whether Bitcoin is evolving into a safe-haven asset or entering a new bullish cycle. "Historically, major crypto bull cycles have been supported by clear drivers, such as regulatory progress, that attract new liquidity. MACRO RISKSBeyond short-term volatility, analysts warn that broader macroeconomic risks remain a key overhang for the crypto market. For now, the crypto market appears to be navigating a complex environment shaped by geopolitical uncertainty, tightening financial conditions and shifting investor sentiment, said Mr Thanalop.

Source: Bangkok Post March 29, 2026 23:01 UTC