Bitcoin rebounds as inflation concerns intensify due to Iran conflict

After U.S. President Trump and Israel launched a military strike against Iran over the weekend, Bitcoin rebounded from earlier declines. Stephen Coltman of 21Shares stated in a report that although safe-haven sentiment is unfavorable for Bitcoin, the cryptocurrency often benefits from rising oil prices caused by Middle East conflicts and inflation concerns. He said, “Given that Bitcoin also benefits from higher inflation expectations, it is reasonable to see its price recover over the weekend.” Data from the London Stock Exchange Group shows Bitcoin rose 0.4% to $65,948 after previously falling overnight. Ethereum slightly declined 0.1% to $1,926.8.

BTC-1,23%
ETH-0,02%
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