Bitcoin Struggles Amid Middle Eastern Tensions

Bitcoin has been hovering around $65,000 USD for several months, unable to break through resistance at this level. The price of BTC has barely budged in recent days as investors assess corporate earnings and rising tensions in the Middle East.

The Strait of Hormuz waterway near Iran has seen conflicting signs that it will reopen to commercial ships, causing crude oil prices to swing from gains to losses. Brent crude oil is currently trading at $81.75 USD per barrel.

Treasury yields have seen a slight correction this week but remain elevated at 4.67% for the 10-year bond. In contrast, gold's price is rising and on track to post its best week since January of this year as safe haven demand increases.