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Bitcoin holds near $65,000 as Brent hits its highest since mid-May

Brent crude futures rose to $97.66 per barrel as the Iran conflict persisted, while ether climbed up to 1.6%.

Reported · Written up by our desk · Market Structure

Bitcoin traded just below $65,000 and was up on the day, as crypto markets broadly rose even while oil pushed higher. CoinDesk data showed bitcoin around $65,010.58, and it added as much as 1.1% since midnight UTC to about $65,760.

CoinDesk also reported ether mirrored bitcoin’s move, gaining up to 1.6% as risk appetite held up despite a macro backdrop that would normally be expected to pressure digital assets.

The oil driver was a jump in Brent crude futures to $97.66 per barrel, its highest level since mid-May, with the Iran conflict showing no sign of de-escalating. CoinDesk noted that traditional markets were more muted, with S&P 500 and Nasdaq 100 index futures only marginally positive and gold holding above $4,000.

Despite the green tape, CoinDesk said some altcoins remained weaker, including WLFI, AVAX, HBAR and SUI, each down over the past 24 hours. It also highlighted Lighter’s slide of about 1.3% on the day, extending a roughly 20% drop from its July peak after profit-taking following a 200% plus rally from May to early July.

Latest closeGold $4,051.10 ▼2.3%|WTI crude $92.23 ▲6.2%|Brent $100.54 ▲6.9%

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