Bitcoin Rises Amid Global Market Volatility
The global markets experienced significant volatility last week due to concerns about inflation and rising borrowing costs. The US Treasury yields broke through the 5% barrier, and the Federal Reserve's decision to raise interest rates reinforced the market's belief in restrictive policy. Retail investors' pessimism reached a high of 53%, according to surveys.
The geopolitical situation remains tense in the Middle East, with military exchanges between Saudi Arabia and Houthi forces in Yemen escalating into a new flashpoint for energy transportation routes. China has intervened discreetly, asking Iran to pressure the rebels to stop attacks on oil infrastructure.
Crude oil prices declined by about 1% due to reports of China's efforts to calm the situation. However, uncertainty remains regarding global refining capacity and potential fuel shortages in key markets. Bitcoin surpassed $80,000 for the first time this month, driving strong gains for related companies like Coinbase and digital coin mining operators.