Bitcoin Holds Near $71K After Recent Volatility
Bitcoin stabilized near the $71,000 level on Friday after dropping below $69,000 in the previous session. The decline came as rising oil prices and concerns over the Federal Reserve’s hawkish stance weighed on overall market sentiment.
The world’s largest cryptocurrency was last trading slightly lower at around $70,675, reflecting continued caution among investors.
Oil Price Swings Pressure Crypto Markets
Bitcoin faced selling pressure as oil prices surged sharply, with Brent crude briefly climbing to $119 per barrel amid supply disruptions in the Middle East.
However, oil later pulled back after the U.S. and its allies introduced measures to ease supply concerns, helping to stabilize broader financial markets.
U.S. Treasury Secretary Scott Bessent indicated that Washington may allow sanctioned Iranian oil already at sea to enter global markets. He also noted that additional releases from the Strategic Petroleum Reserve remain an option if needed.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu signaled restraint on further attacks targeting Iranian energy infrastructure, easing fears of prolonged supply disruptions.
Market Sentiment Improves as Oil Retreats
Following these developments, Brent crude fell back below $110 per barrel and continued to edge lower during Asian trading hours on Friday.
The retreat in oil prices helped improve risk appetite, supporting Bitcoin and other financial assets after the previous session’s selloff.
Hawkish Fed Outlook Continues to Weigh
Despite some stabilization, Bitcoin remains sensitive to macroeconomic trends, particularly U.S. monetary policy.
The Federal Reserve kept interest rates unchanged this week but maintained a cautious tone, warning that inflation risks linked to higher energy prices could delay any potential rate cuts.
This outlook has continued to limit upside momentum in the crypto market.
Altcoins Remain Under Pressure
Most major altcoins also declined on Friday, extending recent losses amid a cautious trading environment.
Ethereum dropped over 2% to around $2,143, while XRP slipped करीब 0.7% to $1.43.
Solana posted a modest decline, while Cardano and Polygon traded largely flat. Among meme tokens, Dogecoin managed a slight gain of about 0.5%.
