US-Venezuela Oil Deal May Spark Bitcoin Rally Amid Global Energy Uncertainty

The US government is negotiating an ownership stake in Venezuela's large oil fields, which hold an estimated 90 billion barrels of proven reserves.

This deal could potentially ease oil supply and influence Bitcoin's path back toward $100,000. The Venezuelan oil fields were previously tied to former insiders, some now indicted, as well as interests linked to China.

The talks come at a time when oil markets are facing pressure from conflicts involving Iran and Ukraine, plus concern over disruptions near the Strait of Hormuz. US Energy Secretary Chris Wright is expected to visit Venezuela to discuss production plans with Acting President Delcy Rodriguez.