Bitcoin catches a break from falling oil prices, but OPEC+ raises new Fed concerns
Photo: CryptoSlate
Bitcoin's recovery faces another inflation test after OPEC+ held December oil production targets steady amid persistent Middle East supply disruptions. Data from CryptoSlate shows that the cryptocurrency climbed around 1% to approximately $78,724 early Monday, recovering modestly from last week's market turmoil as falling oil prices and a weaker dollar offered some relief to risk assets. Brent crude declined about 3% to $110 a barrel after trading above $114 on Friday, while the dollar index slipped 0.5% to 101.45. The moves offered Bitcoin a reprieve from two pressures that have complicated its recovery: expensive energy and restrictive US financial conditions.
Source: CryptoSlate
