Bitcoin Pares Losses as Oil Prices Pull Back From Highs — Market
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Bitcoin trims its losses to trade back above $70,000 as oil prices pull back from their highs that were driven by the widening Middle East conflict. Brent crude earlier rose back above $100 per barrel before dropping back to last trade at $97.93. The rise followed news that two foreign fuel tankers were attacked in Iraqi waters Wednesday. Oil prices remain the driver of macroeconomic sentiment, Marex crypto analyst Louis De Backer says in a note. When crude spikes the market immediately reprices inflation risks and cryptocurrencies are treated as risk-sensitive assets, he says. Bitcoin falls 0.2% to $70,485, LSEG data show. (renae.dyer@wsj.com)
source: https://www.tradingview.com/news/DJN_DN20260312005625:0/
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