On Monday, Bitcoin's value decreased to around $63,900, marking a 1.3% drop for the day. However, the cryptocurrency has seen a 2% increase over the past week. The market is currently reacting to rising oil prices, which are being driven by ongoing geopolitical tensions and a recent slump in AI-related stocks in China.
The broader cryptocurrency market is trending negatively today, with Ether falling 1.1% to $1,850, BNB down 0.8% at $564, and XRP dropping to $1.09. Dogecoin also experienced a 1.4% decline. Among major cryptocurrencies, Hyperliquid's HYPE saw the steepest decline, dropping 8% this week to $60.
Brent crude oil has reached a one-month peak, exceeding $91 per barrel, fueled by escalating tensions between the U.S. and Iran, which have reignited inflation concerns that had previously eased due to softer U.S. price data. Meanwhile, Asian chip stocks are struggling after last week's selloff, with South Korea's Kospi index down 3.5%, although U.S. futures suggest a possible positive shift ahead.
