Bitcoin Steadies Around $65,000 While Oil Climbs to Its Highest Level Since May

TL;DR

• Bitcoin held near $65,000 on Friday despite Brent crude reaching $97.66, its highest level since mid-May, while ether and several crypto assets posted gains.
• Altcoin performance remained uneven, with HYPE and FET rising more than 2% as WLFI, AVAX, HBAR, and SUI declined between 4% and 10%.
• Derivatives showed heavy activity but limited conviction, while $5 billion in bitcoin options clustered between $70,000 and $72,000, mainly through bullish call positions.

Bitcoin held near $65,000 on Friday even as Brent crude advanced to $97.66 per barrel, its highest level since mid-May, while the conflict involving Iran showed no sign of easing. BTC gained as much as 1.1% from midnight UTC, briefly reaching $65,760, and ether rose as much as 1.6%. Crypto’s calm response to an oil shock offered an unexpectedly constructive signal, especially because earlier energy spikes had unsettled risk assets across the wider digital asset complex. Traditional markets remained subdued, with U.S. index futures slightly positive, gold above $4,000, and the Dollar Index marginally lower.

… Continue reading the full article at the original source below.