Coinbase: Bitcoin is relatively resistant to declines under multiple negative factors, which may indicate that the market is building a bottom

Coinbase Institutional stated that U.S. non-farm employment was far below expectations, but the escalation of conflicts in the Middle East has brought inflation risks back into focus for the market. The market is shifting towards pricing "higher interest rates for a longer duration," financial conditions are tightening further, long-term risk assets are under pressure, and the probability of another interest rate hike within the year is also increasing.

Amid multiple negative factors, BTC only fell by about 2%, and this relatively resilient performance may indicate that the market is undergoing a bottoming process.