$BTC The global oil market has become quite tense due to Middle East conflicts and disruptions to Hormuz transportation, so IEA member states are releasing strategic reserves to supply some quantity to the market and lower oil prices, which can also ease some panic. The IEA also stated this is the sixth time in its history and the largest scale of joint emergency reserve release. This should lower oil price predictions for next Monday somewhat.
Looking back at Bitcoin data, today's trading volume has increased somewhat, likely still due to the war situation causing initial concerns about oil price increases leading to downside, followed by increases due to IEA releases. Overall, the current situation is quite straightforward—as long as oil prices ease somewhat, the market will improve; if oil prices remain tight, the market will face bigger troubles. The Fed's interest rate decision meeting is Thursday next week at 2 AM. There's really nothing interesting now; there will definitely be no changes in March, and it's not Powell's last meeting either, so the impact won't be too significant, at most just short-term sentiment. No need to pay excessive attention for now.
$BTC The global oil market has become quite tense due to Middle East conflicts and disruptions to Hormuz transportation, so IEA member states are releasing strategic reserves to supply some quantity to the market and lower oil prices, which can also ease some panic. The IEA also stated this is the sixth time in its history and the largest scale of joint emergency reserve release. This should lower oil price predictions for next Monday somewhat.
Looking back at Bitcoin data, today's trading volume has increased somewhat, likely still due to the war situation causing initial concerns about oil price increases leading to downside, followed by increases due to IEA releases. Overall, the current situation is quite straightforward—as long as oil prices ease somewhat, the market will improve; if oil prices remain tight, the market will face bigger troubles. The Fed's interest rate decision meeting is Thursday next week at 2 AM. There's really nothing interesting now; there will definitely be no changes in March, and it's not Powell's last meeting either, so the impact won't be too significant, at most just short-term sentiment. No need to pay excessive attention for now.