Bitcoin's Uptrend Faces Inflation Warning from Pentagon

Bitcoin's recent surge towards $80,000 has been met with uncertainty due to macroeconomic concerns. A Pentagon briefing to US lawmakers warned that clearing mines in the Strait of Hormuz could take at least six months, potentially keeping oil and gasoline prices high until the US-Iran conflict ends. 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 reflecting these risks. While US-listed spot bitcoin ETFs are seeing sustained demand, some analysts caution that the rally lacks broad support in the spot market and may be driven by demand in the perpetual futures market. The market capitalization of USDT has reached a record high, and speculation in non-serious tokens is increasing. Bitcoin's price ratio to gold has been rising, with the potential for a bullish crossover in the moving averages, suggesting continued outperformance of bitcoin relative to gold.