Bitcoin Rises as Middle East Tensions Push Oil Toward $100

Bitcoin surged to $72,490, up 2%, as escalating tensions in the Middle East drove crude oil prices toward $100 a barrel. The spike followed U.S. strikes on Kharg Island, a critical hub for Iran’s oil exports, which handles 90% of the nation’s shipments.

President Trump warned that U.S. military action could target Iran’s oil infrastructure if shipping through the Strait of Hormuz-carrying one-fifth of global oil-is disrupted further. The region’s instability has triggered broad market scrutiny.

Despite volatility, including a dip below $70,500 over the weekend, Bitcoin stabilized above $72,000. Analysts cite resilient demand for digital assets amid macro uncertainty, even as inflationary pressures delay Federal Reserve rate cuts.

U.S. stock futures edged up 0.15%, reflecting cautious investor sentiment across asset classes.