Bitcoin Treads Water Near $65,000 Amid Middle East Unrest
Bitcoin's price remained stable near $64,700 on Friday as renewed tensions in the Middle East weighed on global markets. The cryptocurrency held steady despite elevated oil prices and a 10-year Treasury yield of 4.67%, which could intensify inflation and limit expectations for rate cuts.
The attack by Yemen's Iran-linked Houthis on Saudi Arabia drove Brent crude above $83 per barrel, adding to the market's uncertainty. This increase in energy costs could have negative effects on risk assets, including Bitcoin.
Gold prices rose 1.5% to $4,300 per ounce as investors sought safe-haven assets. Crypto derivatives reflected a cautious mood, with a neutral futures market and bearish CVD readings across most major cryptocurrencies, except for ADA, HBAR, and ETH.