Bitcoin Surges Above $65,000 as U.S.-Iran Strikes Pause and Oil Prices Fall
Bitcoin prices have risen above $65,000 after a pause in U.S.-Iran strikes led to a drop in oil prices. The asset rose by 1.2% over the past 24 hours. According to market data, Ether climbed 4.2% to reach $1,960, while Solana and XRP gained between 1-2%.
The U.S.-Iran conflict began in late February but paused this week, leading to a decrease in oil prices. WTI oil futures opened the week down 7.2%, dropping to $82.73 per barrel, while Brent fell by 7.1% to $85.13. The Nasdaq contracts declined by 0.6%, and the S&P 500 index added 0.05%.
Analyst Michaël van de Poppe believes that falling oil prices will support the crypto market. Van de Poppe expects oil prices to continue falling, which he sees as a sign of strength for Bitcoin holding above $65,000.