CryptoQuant analyst Axel Adler Jr. said on X that the Global Risk On/Off indicator is currently in a neutral state.
According to Odaily, Adler said recent conflict conditions have shown signs of easing, which he attributed to statements by relevant leaders, while expectations around a SpaceX IPO are also affecting investor sentiment.
Odaily reported that about 372 oil tankers remain stranded in the Persian Gulf, carrying roughly 26 million tons of hydrocarbon resources. The report said the situation may continue to influence expectations for global energy supply and remain a key variable in market risk sentiment.
Adler said risk assets are being shaped by multiple overlapping factors, including geopolitical developments, liquidity changes, and capital market events involving major technology companies, with investors waiting for clearer directional signals.