Bitcoin Waits Amid Rising Oil Prices and Middle East Tensions

Bitcoin's price remained stable at around $64,700 on Friday, despite a series of negative macroeconomic developments. This includes an escalation in the Middle East conflict and rising oil prices. Brent crude climbed above $83 a barrel after an attack on Saudi Arabia by Yemen's Iran-linked Houthis.

The expected impact of these events on the crypto market was not seen, at least not yet. However, experts warn that elevated oil prices could lead to inflation, which in turn could affect the Federal Reserve's decision to cut interest rates. The 10-year Treasury yield remains at 4.67%, a level that some consider a threshold for rate cuts.

In contrast, gold prices rose by 1.5% to reach $4,300 per ounce, as investors sought safe-haven assets amidst the uncertainty. This move has been interpreted as a test of the 'digital-gold' thesis in Bitcoin.