Bitcoin’s $60K price floor is back in play as Hormuz oil shock returns
BTC fell below $63,000 after new U.S. strikes as oil, the dollar and yields rose and equity futures retreated. The post Bitcoin’s $60K price floor is back in play as Hormuz oil shock returns appeared first on CryptoSlate....
Key takeaways
- 1Bitcoin fell below $63,000 Monday after U.S. strikes on Iran triggered oil, dollar, and Treasury yield increases.
- 2BTC now trades near $62,774, closer to $60,000 support level, with break below $62,565 risking further downside.
- 3Brent crude rose 4.7% to $79.59 and U.S. crude jumped 4.8% to $74.85 amid Strait of Hormuz tensions.
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Why it matters
Rising oil prices and Treasury yields strengthen the dollar and bonds as alternative investments, reducing risk appetite for crypto assets like Bitcoin, which Indian retail investors track closely for portfolio diversification and inflation hedging amid geopolitical uncertainty.
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