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Bitcoin momentum stalls amid inflation, Pentagon warning
CoinDesk·
Bitcoin's ascent towards $80,000 has been tempered by rising oil prices and renewed inflation concerns, exacerbated by a Pentagon briefing on the Strait of Hormuz. Increased energy costs and higher bond yields are pressuring risk assets, despite strong inflows into U.S. spot Bitcoin ETFs. Analysts caution that the recent rally is primarily fueled by perpetual futures, not spot market demand, suggesting a potential for correction. Persistent high energy prices could keep inflation elevated, limiting the Federal Reserve's ability to cut interest rates, which negatively impacts Bitcoin's sensitivity to liquidity conditions.
Tickers
$BTC-USD
Tags
fintech
macro
crypto
Original Source
CoinDesk — coindesk.com