<\/p>\n\n\n\n
Bitcoin declined in Asian trading on Friday but remained above the key $70,000<\/strong> level, as investors stayed cautious amid escalating tensions in the Middle East and a surge in oil prices that is complicating the outlook for global inflation and interest rates.<\/p>\n\n\n\n The world\u2019s largest cryptocurrency was down 3.1% at $70,182.6 by 00:56 ET (05:56 GMT)<\/strong>, after briefly rising above $74,000 earlier in the week<\/strong>. Despite the pullback, Bitcoin remained on track for a weekly gain of around 7%<\/strong>.<\/p>\n\n\n\n Market sentiment remained fragile as the conflict between the United States, Israel, and Iran<\/strong> entered its seventh day<\/strong>, following coordinated strikes on Iranian targets and retaliatory missile and drone attacks across the region.<\/p>\n\n\n\n The conflict has raised concerns about the security of shipping routes through the Strait of Hormuz<\/strong>, a vital energy chokepoint that typically handles about 20% of global oil supply<\/strong>.<\/p>\n\n\n\n As tensions escalated, oil prices surged sharply, climbing more than 16% this week<\/strong> amid fears that prolonged fighting could disrupt global energy supplies.<\/p>\n\n\n\n The spike in crude prices has reignited worries about a renewed wave of global inflation<\/strong>, which could complicate the policy outlook for major central banks.<\/p>\n\n\n\n Investors have already begun scaling back expectations for near-term interest rate cuts from the U.S. Federal Reserve<\/strong>, as higher energy costs may keep inflation elevated.<\/p>\n\n\n\n This shift in expectations helped support the U.S. dollar<\/strong>, which gained ground during the week and placed pressure on several risk-sensitive assets. A stronger dollar also weighed on commodities, with gold heading for a weekly decline<\/strong> despite geopolitical tensions.<\/p>\n\n\n\n Despite the broader risk-off environment, Bitcoin has shown relative resilience by maintaining levels above the psychologically important $70,000 threshold<\/strong>, suggesting that demand remains firm even as macroeconomic uncertainty rises.<\/p>\n\n\n\n The broader cryptocurrency market also weakened on Friday.<\/p>\n\n\n\n Among meme tokens, Dogecoin lost 1.8%<\/strong>.<\/p>\n\n\n\n While cryptocurrencies remain sensitive to geopolitical developments and shifts in global monetary policy expectations, Bitcoin\u2019s ability to hold above the $70,000<\/strong> level indicates continued investor interest even amid heightened market uncertainty.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin declined in Asian trading on Friday but remained above the key $70,000 level, as investors stayed cautious amid escalating tensions in the Middle East and a surge in oil prices that is complicating the outlook for global inflation and interest rates. The world\u2019s largest cryptocurrency was down 3.1% at $70,182.6 by 00:56 ET (05:56 …<\/p>\n","protected":false},"author":9,"featured_media":54500,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[6904,8431],"class_list":["post-124451","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-bitcoin","tag-iran"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/124451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=124451"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/124451\/revisions"}],"predecessor-version":[{"id":124452,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/124451\/revisions\/124452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54500"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=124451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=124451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=124451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Geopolitical tensions and oil rally weigh on sentiment<\/h3>\n\n\n\n
Inflation concerns complicate rate outlook<\/h3>\n\n\n\n
Bitcoin shows relative resilience<\/h3>\n\n\n\n
Altcoins also move lower<\/h3>\n\n\n\n
\n