BTC Eyes $100,000 Target Amidst Oil Price Jitters and Fed Rate Hike Uncertainty

The New York Fed President John Williams has stated that the Federal Reserve does not need to rush into raising interest rates again. This announcement has led to a decrease in expectations for a September rate hike, from 67% to around 60%, as per the FedWatch tool.

However, the threat of high oil prices looms due to the ongoing U.S.-Iran conflict and its impact on energy markets. Brent crude has rallied above $95, which could keep inflation high and prompt the Fed to increase rates.

In light of these developments, gold may see increased safe-haven demand if the conflict escalates further, while Bitcoin might struggle as traders tend to lighten positions in volatile assets when yields and geopolitical risks rise.