Bitcoin settles near $65,000 as oil's march toward $100 fails to spook the market
Bitcoin remains stable near $65,000 despite rising oil prices and geopolitical tensions in the Middle East. While major cryptocurrencies show resilience, some altcoins are experiencing volatility and profit-taking following recent rallies.
Why it matters
The market's ability to decouple from traditional energy-driven inflation concerns provides insight into the current maturity and risk appetite of crypto investors.
Brent crude futures are trading at $97.66 per barrel, the highest since mid-May, as the Iran conflict shows no sign of de-escalating. While previous oil spikes have rattled risk assets including crypto, digital assets are broadly green this morning.
Ether (ETH) mirrored bitcoin’s gain, rising as much as 1.6%, while the likes of HYPE and FET rose more than 2%.
Traditional markets are muted, with S&P 500 and Nasdaq 100 index futures both marginally positive and gold holding above $4,000. The Dollar Index has edged slightly lower.
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