Bitcoin’s Ceasefire Rally Dies Fast as War Chaos Returns
Bitcoin's price quickly retreated below $71,000 as renewed Middle East conflict and hawkish Federal Reserve signals overshadowed a short-lived ceasefire rally.Summary
Bitcoin experienced a brief surge to $72,700 following hopes of a US-Iran ceasefire, but quickly fell back below $71,000 as violence in the Middle East intensified. The strike on Lebanon and ongoing blockages in the Strait of Hormuz caused oil prices to bounce back, undermining market optimism.
Compounding the pressure, minutes from the US Federal Reserve's March meeting revealed concerns over persistent inflation. Officials indicated that elevated energy costs from the geopolitical crisis might force the Fed to maintain or increase interest rates, creating a difficult environment for risk assets like Bitcoin. Ultimately, the market rally proved to be momentum-driven rather than fundamentally supported, leaving Bitcoin vulnerable to both geopolitical instability and a cautious central bank policy.
(Source：BeInCrypto)