- Bitcoin gained roughly 2.5% to trade near $72,950 this weekend, rebounding from a volatile dip toward $70,500.
- Crude oil surged to around $100 a barrel, its highest price since July 2022, following U.S. strikes on Iran‘s Kharg Island.
- President Trump warned that Iran’s oil infrastructure could be targeted if shipping through the Strait of Hormuz is disrupted.
- U.S. stock futures edged modestly higher, while analysts note Bitcoin’s resilience may be fueled by crypto-specific demand.
Bitcoin rebounded sharply over the weekend, climbing to approximately $72,950 amidst escalating Middle East tensions that sent oil prices soaring, according to market data. The cryptocurrency’s recovery followed a volatile dip toward $70,500 as traders globally assessed the risk of the conflict spilling into broader financial markets.
Consequently, crude oil jumped roughly 3% to around $100 a barrel after U.S. strikes on military facilities on Kharg Island, a hub handling 90% of Iran’s exports. In a post on Truth Social, President Donald Trump described the raid as “one of the most powerful bombing raids in the history of the Middle East.”
However, he stated the U.S. deliberately avoided Iran’s oil infrastructure while issuing a stern warning. Trump cautioned that this restraint could change if Iran interferes with shipping through the Strait of Hormuz, which carries about one-fifth of global oil supply.
Meanwhile, the price of oil matters for Bitcoin because higher energy costs can complicate the Federal Reserve’s path to interest rate cuts. This scenario potentially prolongs a tighter monetary policy regime, which affects global liquidity.
Despite rattling commodity markets, the conflict left broader risk assets relatively steady by late Sunday. U.S. equity futures for the Dow, S&P 500, and Nasdaq-100 each edged about 0.15% higher.
Bitcoin’s price action reflected market uncertainty, yet its performance since the war began on February 28 has remained resilient. Analysts point to crypto-specific demand rather than a broader decoupling from macro trends as prices stabilized through the weekend.
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