Bitget Research: Geopolitical Risks Disrupt Energy Markets, Crypto Assets May Enter Defensive Zone

Odaily News Bitget Research's Chief Analyst Ryan Lee stated that in the second quarter of 2026, market trends will remain highly influenced by geopolitical tensions, particularly their ongoing disruptions to energy markets and global liquidity. If tensions escalate further and cause substantial shocks to Asian crude oil supply, Brent crude oil prices may remain above $120 per barrel. This would further elevate inflation expectations and keep the global market's macro-financial environment relatively tight.

Ryan pointed out that if high oil prices persist beyond market expectations, capital allocation may shift further towards defensive assets. Against this backdrop, tightening liquidity and declining risk appetite could continue to suppress the overall performance of digital assets. Among them, Bitcoin might test the $55,000 level, while Ethereum could potentially test the $1,500 region.

He further emphasized that with rising energy costs, their impact on yield expectations, portfolio adjustments, and cross-market capital flows is continuously strengthening. This also makes crude oil prices one of the key external variables affecting the performance of crypto assets in the second quarter.