Bitcoin's Uptrend Faces Challenge from Pentagon's Inflation Warning

Bitcoin's attempt to break through the $80,000 barrier has been hindered by renewed macroeconomic uncertainty. The Pentagon warned US lawmakers that clearing mines in the Strait of Hormuz could take at least six months, potentially keeping oil and gasoline prices elevated. This could lead to persistent inflation, limiting the Federal Reserve's ability to cut interest rates and negatively impacting risk assets like bitcoin. Rising energy costs may also reduce investor appetite for speculative assets. Market indicators such as WTI crude and government bond yields are already showing signs of tighter financial conditions. While US-listed spot bitcoin ETFs are seeing sustained demand, some analysts caution that the rally lacks broad-based support in the spot market, increasing the risk of a correction. The market capitalization of the largest dollar-pegged stablecoin, USDT, has reached a record high, and speculation in non-serious tokens is on the rise.