Oil Price Plunge Triggers Market Rally Fears

Brent oil futures have fallen below the $100 mark after Iran offered to open the Strait Of Hormuz within seven days. The country will lift its blockade on the US ports and halt military operations if the United States begins lifting its own blockade.

This price dip could have a positive impact on both stock and cryptocurrency markets, which are currently showing signs of recovery. Bitcoin (BTC) has climbed to $87,000 in price earlier today but is facing resistance at this level. The S&P 500 and Nasdaq are also in the green today, with semiconductor stocks experiencing a surge.

The Federal Reserve raised interest rates by 25 basis points recently, which historically leads to less risky investments. However, the cryptocurrency market seems to be defying this trend, and it remains to be seen whether the current rally will continue or face a correction due to high interest rates.