Bitcoin is holding strong above $70,000 after bouncing nearly 7% from Monday’s lows, briefly reaching around $71,600 before stabilizing near the $70K level.
The positive move comes as oil prices dropped sharply after the International Energy Agency proposed the largest crude oil reserve release in history to offset production cuts in the Persian Gulf. This move pushed Brent Crude below $90, easing inflation concerns and improving market sentiment.
Because of this, investors are becoming more optimistic that the Federal Reserve could start cutting interest rates later this year.
🚨 $WLFI IS ON FIRE RIGHT NOW! 🔥🔥 World Liberty Financial just exploded +23% in the last 24h and is leading the trending charts on CoinMarketCap & CoinGecko!