Driven by the recovery of macro risk appetite and capital inflows into major cryptocurrencies, NYM shows a staged upward trend. On the technical side, $0.033 serves as key support and $0.0354 as the primary resistance. In the short term, tracking Bitcoin’s range breakout is essential. If NYM breaks above $0.034 with strong volume, it could open up more upside; conversely, falling below $0.033 would increase retracement risk. It is advised to remain cautious at higher levels, follow up after a breakout, and stop loss promptly if support is breached.

Recently, the easing of geopolitical tensions and the Fed's ongoing hawkish stance have coexisted, resulting in a short-term rebound for risk assets. The crypto market has followed US equities, especially with commodities and institutional position adjustments. Major cryptocurrencies have led the way, attracting capital to flow into mid- and small-cap tokens. Since mid-March, NYM has risen over 16%. This clear uptrend is attributed to both an improved risk-on environment and increased institutional allocations, providing a solid foundation for NYM's medium- and long-term value.

BitMart Research Weekly highlights easing US-Iran tensions and a hawkish shift in the Federal Reserve, driving a rebound in risk assets including crypto. US stocks, especially AI-related sectors, show strong recovery amid geopolitical risks. Inflation data signals potential upward pressure if oil prices stay high. Crypto markets follow US stocks with BTC and ETH leading, while altcoins remain volatile. Institutional inflows into Bitcoin ETFs and MicroStrategy’s increased BTC holdings indicate long-term confidence.

BitMart Research Institute Weekly Hotspot Analysis: US-Iran Easing Combined with Fed's Hawkish Shift, Crypto Market Follows Rebound to Form a Bottom

Recently, Bitcoin broke through the $75,000 mark for the first time but faced resistance near $78,000, resulting in a range-bound movement between this level and the key support at $74,000. This consolidation among major cryptocurrencies sets the tone for market liquidity and investor sentiment, directly impacting the price swings of related altcoins. Against this backdrop, NYM has been fluctuating between $0.033 and $0.035. Attention should be paid to whether Bitcoin continues to break out or retrace, as its moves will affect NYM's price action.

At the daily chart level, NYM has been building an ascending channel from $0.030 to $0.035 since late March, peaking at $0.0354 in early April before retreating. Currently, the price is repeatedly supported near $0.033, but short-term trading volume has shrunk compared to the previous rally, indicating that the bulls are showing caution during the pullback. If the $0.033 key support holds and a breakout above $0.034 occurs with strong volume, NYM may retest the $0.0354 resistance. If support fails again, further downward pressure should be anticipated.

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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NYM price today is 0.03, with a live price change of 0.88 in the last 24 hours. Convert, buy, sell and trade NYM on Bybit-eu.

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