Earlier this week, around-the-clock crypto markets absorbed tensions between the US and Iran as digital asset traders assessed potential contagion risks from fluctuations in oil prices when US markets opened today amid a climate of uncertainty and tension.
The day before yesterday, the United States announced the start of a bombing campaign against Iran, which affected Bitcoin and other virtual currencies. Despite a cautious rebound following news of Iran’s Supreme Leader Ayatollah Ali Khamenei, prices remained close to levels recorded last Friday.
Today, Bitcoin rose about 0.7% to about $66,150 by 6:22 a.m. London time.
expectation of interest
Traditional markets in Asia reflected the conditions expected to be seen throughout the day as investors reacted to the latest developments in the Middle East conflict.
Standard indexes such as Japan’s Nikkei 225 and Hong Kong Stock Exchange’s Hang Seng index fell, but oil prices posted their biggest rise in four years.
Rising oil prices are likely to put pressure on cryptocurrencies, and their price fluctuations are influenced by expectations of the U.S. Federal Reserve’s monetary policy, and inflation due to rising energy costs could postpone expectations for the next interest rate cut, damaging high-risk assets.
