Bitcoin's Upward Trajectory Faces Inflation Warning from Pentagon

As bitcoin appeared poised to break through the $80,000 barrier, macroeconomic uncertainty has resurfaced. The Pentagon has informed US lawmakers that clearing mines in the Strait of Hormuz could take at least six months, warning that oil and gasoline prices may remain high until the US-Iran conflict ends. This could lead to persistent inflation, limiting the Federal Reserve's ability to cut interest rates, which would negatively impact risk assets like bitcoin. Rising energy costs could also reduce investor appetite for speculative assets. Market risks are increasing, with WTI crude rising to around $95 and government bond yields increasing across major economies. Despite sustained demand for US-listed spot bitcoin ETFs, some analysts are urging caution, citing the rally's lack of broad-based support in the spot market. The market capitalization of USDT has reached a record high, while speculation in non-serious tokens is on the rise. The ratio of bitcoin's price to gold has been steadily increasing, with the 50-day average potentially crossing above the 100-day average, indicating a bullish shift in momentum.