The cryptocurrency market is showing resilience amid heightened geopolitical tensions. Bitcoin consolidated above $107,000 despite growing concerns over the US announcement of new tariffs. Data on bitcoin-based derivatives indicate a decline in interest in defensive strategies: demand for put options declined and the futures premium returned to neutral levels. Analysts attribute this to investor optimism amid expectations of liquidity inflows. If the perception of bitcoin as a protective asset strengthens, it could be a catalyst for a move towards the $120,000 mark, however, at the moment, the market remains trapped in a narrow range.