Bitcoin Rallies Continues Amid Policy Optimism
Bitcoin rebounded to $97,511 on Monday, recovering from a brief dip after reaching a record high of $99,830 on Friday. The cryptocurrency has surged 45% since the November 5 election, driven by expectations of a crypto-friendly regulatory environment under the Trump administration.
Over the past week, Bitcoin’s sharp fluctuations—peaking near $100,000 before briefly retreating—have prompted shifts in other markets. Safe-haven assets like gold and the yen faced downward pressure, as investors rotated funds toward riskier digital assets. Bitcoin’s resilience continues to draw interest as a potential hedge against inflation and a store of value in a volatile macroeconomic environment.
Oil Prices Steady Amid Geopolitical Risks
Oil prices remained near two-week highs as geopolitical tensions involving Russia and Iran stoked fears of potential supply disruptions. Brent crude edged up 0.2% to $75.30 per barrel, while WTI crude also rose 0.2% to $71.38 per barrel. Both benchmarks gained approximately 6% last week, reflecting robust demand and heightened concerns over supply constraints.
Analysts note that continued uncertainty in the Middle East, coupled with strong seasonal demand, is likely to keep oil prices elevated in the near term.
Market Context
Global financial markets showed mixed movements, with Asian stocks surging and U.S. equity futures nearing record highs. However, the dollar weakened against major currencies as U.S. Treasury yields declined, reflecting cautious optimism following the appointment of Scott Bessent as U.S. Treasury Secretary.