Bitunix Analyst: Geopolitical Tensions Rise on Two Fronts, BTC Struggles at 91,000, Market Risk Premium Rebounds

BlockBeats News, November 28 — Russian President Putin has recently responded to the US-Ukraine peace proposal, stating that the relevant text "can serve as a basis for future agreements," but also emphasized that if conditions cannot be met, Russian forces will continue military operations. He reiterated that the legitimacy of Ukraine's current regime and territorial issues remain the core differences. On the other hand, US President Trump announced that the US will expand its anti-narcotics operations against Venezuela from the sea to land, while simultaneously increasing military deployments in the Caribbean, significantly raising regional tensions.

From a macro perspective, the outlook for Russia-Ukraine peace talks remains highly uncertain. Negotiations and military advances are proceeding in parallel, meaning that geopolitical risks have not substantially cooled. At the same time, US military and sanction actions in Latin America are further increasing uncertainty in the energy, shipping, and credit markets. Geopolitical tensions are "heating up on two main fronts," and the logic of global capital risk pricing is shifting towards structural risks caused by simultaneous disturbances in multiple regions.

In the crypto market, the resurgence of risk aversion is putting short-term pressure on highly volatile assets. Bitcoin is currently constrained by technical resistance around 91,000, with bulls and bears repeatedly battling at high levels in the short term. Support below is focused on the 89,000–88,000 range; if this range is lost, structurally there is a risk of further testing the mid-term bull-bear dividing line around 86,000. From the perspective of leverage structure, there remains a dense liquidation risk in the upper resistance zone, while the lower area is where defensive funds are mainly concentrated, indicating that the market has not yet formed a consensus direction.

Bitunix analyst: The current crypto market is in a stage of "macro geopolitical risk repricing + technical high pressure + monetary easing + labor slowdown," with capital flows showing clear signs of conservatism and short-term orientation. In the coming period, the core driver of the market will depend more on whether there is a substantial cooling of geopolitical events and whether risk capital is willing to take on volatility again, rather than on short-term technical breakouts alone.