Bitcoin Holds Above $78,000 as U.S. Strikes on Iran Send Oil Higher and Stocks Lower
Bitcoin showed little reaction to U.S. strikes on Iran, holding above The largest cryptocurrency is on track for its best month since 2017, holding above $78,000 even as a hawkish Fed and renewed Middle East conflict drag on stocks and lift crude.
while the news pushed crude oil higher and weighed on equities, according to CoinDesk and Decrypt.
Decrypt reported that bitcoin is on track for its best month since 2017, even with a hawkish Federal Reserve and renewed conflict in the Middle East pressuring traditional markets. CoinDesk noted that the muted crypto response stood in contrast to moves in oil and stocks following the strikes.
Equities remained in negative territory into the final hour of trading, according to MarketWatch, which reported that President Trump threatened additional strikes on Iran, adding to uncertainty already weighing on stock prices.
While oil prices climbed and stocks slid on the geopolitical news, bitcoin’s stability highlighted a divergence between crypto and traditional risk assets during the episode, per CoinDesk and Decrypt.
Sources: CoinDesk, Decrypt, MarketWatch
This article is for information only and is not financial advice.
What the market did
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