Rising oil prices keep pressure on crypto markets

Bitcoin has managed to hold above recent lows, but the latest rally has lost some momentum as investors keep a close eye on the global economy. Much of the attention has shifted to rising oil prices and what they could mean for inflation. If higher energy costs push inflation up again, the US Federal Reserve could delay cutting interest rates. That matters because interest rate decisions often influence how much investors are willing to put into higher-risk assets such as cryptocurrencies. When borrowing costs stay high, investors tend to be more cautious with their money.

ETF demand continues to support Bitcoin

Bitcoin briefly moved above $66,000, helped by continued demand from spot Bitcoin ETFs. Those funds have brought steady institutional money into the market and have helped support prices during recent weeks. Even so, traders are not only watching what happens in crypto.

Economic data, inflation reports and comments from the Federal Reserve are all likely to influence where prices go next. Ethereum and several other major cryptocurrencies also traded higher, although gains were relatively modest. For now, Bitcoin continues to find support from institutional buying, but the wider market is still looking for a clearer signal from the global economy before making its next move.