Oil Dumps, Bitcoin Recovers as Trump Halts Iran Strikes; $64K Target in Sight
Geopolitical tensions ease as Trump calls off Iran strikes, sending oil prices tumbling. Bitcoin seized the moment, snapping back from lows and eyeing a $64,000 surge. This whipsaw action highlights crypto's sensitivity to macro shifts.
President Trump pulled the plug on planned strikes against Iran, a move that immediately slammed oil prices lower. Crude futures shed nearly 5% in minutes as the immediate threat of supply disruption evaporated. This de-escalation is a clear signal that the market was pricing in significant risk premium for oil.