Ryan Lee, chief analyst at Bitget Research, stated that market movements in the second quarter of 2026 will remain highly driven by geopolitical tensions, particularly their continued disruption to energy markets and global liquidity. If tensions escalate further and substantially impact Asian oil supplies, Brent crude prices could remain above $120 per barrel. This would further fuel inflation expectations and keep the global macro-financial environment tight. Lee pointed out that if high oil prices persist beyond market expectations, asset allocation may further shift towards defensive assets. Against this backdrop, tightening liquidity and declining risk appetite could continue to suppress the overall performance of digital assets. Bitcoin could potentially fall to around $55,000, while Ethereum could test the $1,500 area. He further emphasized that as energy costs rise, their impact on yield expectations, portfolio adjustments, and cross-market capital flows is increasing, making oil prices one of the key external variables affecting the performance of crypto assets in the second quarter.