Gate News bot message, Gate market display, BTC breaks through 68,000 USDT, current price 68,000.6 USDT.
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The US-Israel conflict pushes up oil prices, and Bitcoin remains stable due to resistance in the US market
Despite the rise in oil prices to $100 per barrel due to the US-Israel-Iran conflict, Bitcoin remains stable around $67,000, which is related to its close correlation with the US stock market. The US has low dependence on Middle Eastern oil, and the stock market's resilient performance has accordingly supported Bitcoin's price stability.
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BTC breaks $68,000, up 1.16% in the last 24 hours
Gate News Report, March 9th, according to Gate market data, the BTC/USDT trading pair is currently quoted at $68,004.1, successfully breaking through the $68,000 threshold, with a 24-hour increase of 1.16%.
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Oil price shocks sweep the globe, but Bitcoin remains steady at $67,000: Wall Street correlation becomes a key variable
The Middle East geopolitical conflict has led to a rise in international oil prices, while Bitcoin prices remain relatively stable, staying around $67,000. The US stock market has shown resilience, with increased correlation to Bitcoin, while Asian markets are more affected. As institutional funds enter the crypto market, Bitcoin is increasingly viewed as a risk asset. Additionally, although the US has a high level of energy independence, rising oil prices may still impact inflation through consumer spending.
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