Bitcoin searches for equilibrium at $70,000 while rising crude oil prices and tanking stock markets have investors worried over the future of inflation in the US.
$BTC swift rejection from its $76,000 range high , and the subsequent sell-off below $70,000, raised concerns among traders that the bottom is not in for BTC.
Bitcoin’s tumble below $70,000 followed sharp selling in US stocks, where traders’ concerns over crude oil prices, the cost of the US and Israel-Iran war and its impact on inflation zapped investor confidence.
In a post discussing how the current decisions by the Trump administration could impact inflation, The Kobeissi Letter said,
"The market now sees a 50% chance of a US Fed rate HIKE by the end of 2026. Just months ago, markets saw as many as four rate CUTS this year.”