Despite a large drop in risk assets, including the US equity market, driven by rising expectations of interest-rate hikes from central banks, Bitcoin, like a system of checks and balances, is demonstrating stability.

At times when inflationary pressure around the world begins to rise sharply again, there is a natural tendency for capital to seek assets capable of preserving purchasing power. It is here that Bitcoin demonstrates its potential, acting as an alternative store of value. By being recognized as a means of protection against the debasement of fiat money, investors—especially those from the Middle East—seek refuge in it, thereby signaling problems in current economic policy, which helps prevent the cryptocurrency market from another steep collapse.

Competition, as is known, is also a driver of progress and benefits consumers in all spheres, including the money market. In this context, Bitcoin not only represents a new form of digital money but can also play an important role in supporting the stability and dominance of the US dollar. Many experts have repeatedly noted that by offering an alternative, Bitcoin forces issuers of traditional currencies to be more responsible and cautious in their financial decisions. This healthy competition brings financial institutions back to maintaining confidence in the dollar, compelling them to manage inflationary risks more carefully and support economic stability.

In the long term, this dynamic may lead to a more balanced global financial system in which digital assets and traditional currencies coexist and mutually reinforce each other.

Trading recommendations:

Regarding Bitcoin's technical picture, buyers are currently targeting a return to the $69,300 level, which opens a straight path to $70,900, and from there, $73,000 is within easy reach. The most distant target would be the high of around $74,600; breaching that would indicate attempts to restore the bull market. In the event of a decline, buyers are expected at $66,700. A return of the trading instrument below this area could quickly push BTC down toward $64,900. The furthest target on the downside would be the $62,600 area.

Regarding Ethereum's technical picture, a clear close above $2,078 opens a direct route to $2,175. The most distant target would be the high around $2,238; overcoming that would indicate strengthening bullish sentiment and a return of buyer interest. In case of a decline, buyers are expected at $2,007. A return of the trading instrument below this area could quickly push ETH down toward $1,915. The most distant downside target would be the $1,845 area.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.