Bitcoin Resilient at $78,000 Amid Oil Shock, Fed Fears
Bitcoin remains under pressure near $78,000 as rising oil prices, increasing bond yields, and growing expectations of another US interest rate hike weigh on cryptocurrency investors.
The world's largest cryptocurrency was trading around $78,300, while Ethereum changed hands near $2,470. XRP was around $1.40 and Solana near $102, with most major tokens slipping over the past 24 hours.
Crypto markets are increasingly being driven by macro forces dominating equities and bonds, with renewed geopolitical tensions pushing Brent crude above $100 a barrel and reviving concerns about inflation.
Bitcoin's ability to remain near $78,000 despite oil, rates, and geopolitical uncertainty suggests the market is proving resilient, but the next major move may depend less on crypto itself than on what happens to inflation.