Bitcoin has shown remarkable resilience as it surged past $108,000, remaining strong despite escalating tensions in the Middle East and rising oil prices. Over the weekend, it retested the $104,000 support level, with traders maintaining confidence even as expectations for U.S. interest rate cuts diminished. The Bitcoin futures market reflected this sentiment, with a neutral premium of 5% recorded. Additionally, U.S.-listed spot Bitcoin ETFs experienced significant inflows, which helped assuage market fears of a recession amidst the geopolitical conflict involving Iran. However, challenges persist, particularly from rising energy costs and uncertainty surrounding Federal Reserve policies. Analysts suggest that Bitcoin's journey toward $110,000 could face obstacles as traders are now pricing in a higher chance of stable interest rates. Despite these pressures, Bitcoin's derivatives metrics remained neutral, indicating potential for further price increases as the conflict unfolds. The overall market appears to favor Bitcoin's appreciation, although ongoing tariff uncertainties and energy price fluctuations pose risks.

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