What happens next if oil reaches $77.50 amid conflict?
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As a result of the ongoing conflict, oil prices increased by 6.4%, reaching $77.50. Can Bitcoin bounce back from $69,192.08 amid persistent inflation concerns that are delaying interest rate reductions by the Fed? Since the Strait of Hormuz is currently blocked, will the market really fall, as rising energy prices might reduce the money available worldwide?
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With oil prices spiking, the Fed is delaying rate cuts until late 2026, making Bitcoin’s path to $69,000 much tougher. You should know that energy costs are squeezing the markets. It’s important to stay diversified and watch for lower tensions to finally ease the pressure on your wallet.