Bitcoin holds near $63,800 as war-driven selloff hits everything but crypto
Bitcoin and major cryptocurrencies have remained remarkably stable despite a global market selloff triggered by escalating tensions in the Strait of Hormuz and hawkish Federal Reserve signals. While traditional assets like gold, oil, and equities reacted sharply to the geopolitical conflict and interest rate concerns, crypto assets decoupled from these macroeconomic pressures.
The traditional-market reaction that was on hold over the weekend arrived at once. Spot gold slid as much as 1.6% to near $4,050 an ounce. Brent crude jumped 4% to above $79 a barrel as conflicting claims over the Strait of Hormuz fueled worries about supply.
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