Bitcoin's Rally Faces Challenges Amid Pentagon's Inflation Warning

As bitcoin approached $80,000, macroeconomic uncertainty resurfaced, posing a challenge to its momentum. A Pentagon briefing to U.S. lawmakers warned that clearing mines in the Strait of Hormuz could take at least six months and that gasoline and oil prices may remain high until the U.S.-Iran conflict ends, potentially keeping inflation elevated and limiting the Federal Reserve's ability to cut interest rates. This could negatively impact risk assets, including bitcoin, which is highly sensitive to interest rates and global liquidity. Rising energy costs could also reduce investors' appetite for speculative assets. Market indicators such as WTI crude and government bond yields are already reflecting these risks. While U.S.-listed spot bitcoin ETFs are seeing sustained demand, some analysts caution that the rally lacks support in the spot market and that a correction is possible if traders take profits. The market capitalization of USDT has reached a record high, and speculation in non-serious tokens is increasing. The ratio of bitcoin's price to gold has been rising, with the 50-day moving average potentially crossing above the 100-day average, indicating a bullish shift in momentum.