What next as bitcoin slips below $69,500, tanker attacks send oil back above $100
CoinDesk
Bitcoin fell below $69,500 after tanker attacks in Iraqi waters caused Brent crude to surge back above $100 a barrel.Summary
Bitcoin dropped to $69,393, erasing recent gains, as attacks on two oil tankers in Iraqi waters caused Brent crude to surge by as much as 10.5%, pushing prices back above $100 a barrel. This renewed geopolitical tension reversed optimism surrounding the IEA's proposed reserve release and caused risk sentiment to retreat across Asian markets, with the MSCI Asia Pacific index falling 1.8%. Bitcoin has repeatedly failed to sustain pushes above $71,000 over the past two weeks due to escalations in the Middle East conflict, with on-chain data suggesting negative apparent demand. Furthermore, rising oil prices complicate the outlook for the upcoming Fed meeting, making interest rate cuts seem more distant.
(Source：CoinDesk)