- Bitget sees institutional dip-buying in BTC, ETH, and XRP, but has warned about the effects of the US-Iran conflict on the path to Q2.
Blockzeit recently consulted Ryan Lee, Chief Analyst at Bitget Research, for his thoughts on current market conditions against the shaky macro backdrop. The digital asset expert expressed optimism about institutional trends while warning about the long-term effects of the persistent economic disruptions stemming from Middle East tensions.
BTC, ETH, and XRP Price Trends
Lee stated that Bitcoin (BTC), Ethereum (ETH), and XRP are consolidating in the $65,000 to $76,000, $1,800 to $2,400, and $1.3 to $1.6 ranges, respectively. He noted that their overall leverage is much lower following the late-2025 deleveraging event. Nonetheless, he sees a healthier market foundation emanating from the situation.
Meanwhile, spot Bitcoin exchange-traded funds (ETFs) have recorded strong net inflows since the escalation of the Iran conflict, including over $2 billion in recent weeks and consecutive streaks of positive flows. The development shows clear dip-buying conviction from institutions.
However, Lee cautioned that the crypto fear & greed index has lingered below 20 for far too long. It signals extreme caution rather than a euphoric bubble.
In the short term, any de-escalation signals could drive quick liquidity recovery, lifting BTC toward $78,000-$80,000, ETH to $2,400-$2,600, and XRP near $1.7. At the same time, persistent oil pressure would likely keep the current range intact with strong support at the lows.
What These Things Mean for Q2
Lee believes the second quarter of 2026 will remain highly sensitive to geopolitical developments. It will be particularly tethered to how energy markets and liquidity conditions respond.
If tensions around Iran persist and materially constrain Asian oil supply, Brent crude could remain above $120, aligning with inflation expectations and keeping macro conditions tight across global markets. A prolonged energy shock would make any meaningful easing path more difficult, increasing pressure across risk assets even if broader economic activity remains relatively stable.
The Bitget chief analyst projects that markets would likely respond through deeper defensive positioning if energy prices stay elevated for an extended period. Under such a scenario, Bitcoin could move toward the $55,000 range, Ethereum may test the $1,500 area, and XRP could approach $1.00 as tighter liquidity and reduced risk appetite weigh across digital assets. The primary transmission channel remains oil, as higher energy costs continue to influence yield expectations, portfolio positioning, and capital allocation.
A faster diplomatic resolution would likely shift that framework quickly. If supply concerns ease and oil stabilizes at a lower level, broader liquidity conditions could improve. The cooling tension would allow Bitcoin to move above $90,000, Ethereum toward the $2,700 to $2,800 range, and XRP beyond $1.80 as risk appetite returns.
Overall, current Q2 ranges therefore remain wide, with Bitcoin between $55,000 and $94,000, Ethereum between $1,500 and $2,800, and XRP between $1.00 and $1.80, while institutional ETF accumulation continues to provide underlying resilience through short-term volatility.
