Oil Prices Rise as Bitcoin Surpasses $65,000 and Trump Hints at New Iran Strategy
International oil prices rose on August 10th, as U.S. oil increased by 0.82% to $78.82 per barrel, while Brent oil jumped over 1% to $84.5 per barrel. The precious metals market also saw gains, with spot gold rising 0.02% to $4341.79 per ounce and spot silver increasing 0.2% to $63.65 per ounce.
Bitcoin continued its upward trajectory, surpassing $65,000 per coin in the past 24 hours. In contrast, over 95,000 traders were liquidated across the entire market during this period.
In other news, President Trump stated that he is 'quietly handling' the Iran issue, hinting at a preference for increased economic pressure over large-scale military action. The Iranian parliament's National Security and Foreign Policy Committee has approved an outline for a strategic action plan to ensure the security and development of the Strait of Hormuz.