CoinDesk·3 min read·medium
Live updates: Bitcoin nears $65,000 as oil, inflation hopes keep macro bid alive
S
Shaurya Malwa
✦AI Summary
Bitcoin is approaching the $65,000 mark, driven primarily by macroeconomic optimism rather than internal crypto-market demand. The asset's price trajectory is currently tied to potential declines in oil prices, inflation, and Treasury yields, alongside its strong correlation with the S&P 500.
The bid under bitcoin is coming from macro hopes rather than fresh crypto demand. President Donald Trump pointed to strong employment, better manufacturing data and cooling inflation, while also raising the possibility of a deal to reopen the Strait of Hormuz.
economycryptobusiness
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