Bitcoin trades near $63,900 as oil surge and China AI shock weigh on crypto
Risk appetite weakened as Middle East tensions and hawkish Federal Reserve expectations lifted oil and hit semiconductor shares, while Bitcoin stayed range-bound and Ether lagged.
BTC
Summary
Risk sentiment turned defensive as Middle East tensions and hawkish Federal Reserve expectations pushed Brent crude above $85 a barrel for a weekly gain of more than 10% and weighed on semiconductor shares in U.S. equities. In crypto, Bitcoin traded in a relatively tight $63,000-$65,000 range while Ether underperformed, reflecting a market that remained cautious amid broader macro pressure.
Terms & Concepts
- Brent crude: A global oil benchmark that traders watch for signals on energy prices and inflation risks.
- risk-off: A market environment in which investors reduce exposure to riskier assets and favor safer positions.