The move came during a choppy trading period in which higher oil prices appeared to cloud the broader macroeconomic outlook for risk assets, including cryptocurrencies.
Bitcoin climbed 5% during a volatile week, with the advance unfolding against a backdrop of rising oil prices and a less certain economic outlook. The combination highlights how digital assets can move sharply even as broader macro conditions remain unsettled. Higher energy prices are often watched as a signal for inflation and growth concerns, which can influence sentiment across risk assets such as cryptocurrencies.