Oil crisis eases as Brent falls below $100, potentially boosting Bitcoin
- —Brent fell to $98.50 from last week's peak of $108.75, down more than 9%
- —Saudi Arabia restarted a key pipeline that had carried 4 million barrels per day
- —Oil has now declined for six consecutive sessions, the longest streak in 12 months
- —Cheaper energy eases inflation pressure and could lift risk appetite
Why it matters: Lower oil prices reduce inflation expectations and raise the odds of a softer Fed stance, a backdrop that typically supports risk assets such as Bitcoin.
Source: Crypto Insiders