Market Wrap: Bitcoin Range-Bound as Altcoins Underperform

Market Wrap: Bitcoin Range-Bound as Altcoins Underperform
Bitcoin was stuck in a narrow range of between $36,000 and $37,000 on Thursday as some analysts remain cautious on speculative assets, including cryptocurrencies, while macroeconomic risks continue to linger.Recent price jumps in both crypto and equities have stalled, while oil prices approached six-year highs on Thursday. Choppy trading conditions may reflect uncertainty among investors, many of whom typically rotate into less volatile assets during the early phases of a tightening cycle (rising interest rates).And the threat of rising inflation could force central banks to drain liquidity from financial markets, which has underpinned the rise in stocks and cryptos over…