Bitcoin Stuck Below $65K as Geopolitical Hopes Evaporate
Fresh Strait of Hormuz friction pushed crude up to $89, keeping crypto flat ahead of key inflation data.
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Key takeaways
- Bitcoin remains pinned below $65,000 while XRP risks losing the $1 mark.
- Donald Trump's demand for 50 years of Iranian compensation drove oil back up to $89.
- Crypto and stock markets are sitting flat as traders await incoming CPI data.
Any hope for a quick fix to geopolitical tensions vanished overnight. Bitcoin can't clear $65,000, and XRP is hanging by a thread near $1.
That brief Strait of Hormuz relief trade collapsed fast. Donald Trump demanded 50 years of compensation from Iran, sending crude oil spiking straight back to $89 a barrel.
Markets Hold Their Breath
Surging energy costs killed the momentum, leaving stocks and crypto completely flat. Nobody's making big moves. Traders are waiting on the next Consumer Price Index (CPI) print to see where the macro picture goes next.
Why it matters
Pricey oil brings back sticky inflation fears. If energy costs stay high, central banks can't cut rates. That puts a hard ceiling on risk assets like Bitcoin and XRP until macro clears up.
Source: CoinDesk
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Alex Rivera
Alex covers crypto markets and trading, testing every platform hands-on before writing about it.
