Bitcoin Faces Inflation Crosswinds as Iran Conflict Sends Oil Prices Higher
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Bitcoin traded near $62,000 as renewed U.S.-Iran clashes pushed oil prices up more than 5%, stoking inflation fears and unsettling financial markets. Rising crude and divergent market and NY Fed inflation signals complicate the Fed outlook ahead of the June meeting minutes, creating hawkish risk that could pressure crypto and other risk assets.
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The bitcoin is manoeuvring a difficult macroeconomic environment as renewed U.S.-Iranian conflict stokes inflation fears and shakes financial markets. The cryptocurrency was trading near $62,000 after President Donald Trump declared the ceasefire with Iran was “over,” sparking renewed military clashes and sending oil prices up more than 5%.
The rise in crude prices has complicated the inflation outlook just as investors are gauging the next move by the Federal Reserve. Market-based inflation expectations have eased in recent weeks but a New York Fed survey showed consumers expect inflation to stay high in the coming year, sending mixed signals to policymakers.
Analysts will be poring over the minutes from the Fed’s June meeting for hints about where it intends to take interest rates next. Such a hawkish tone could weigh on risk assets like Bi…
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