Situation in the Middle East eases, expectations cool down, oil prices rebound, Bitcoin falls below $69,000

According to CoinDesk, Bitcoin fell below US$69,000, down more than 3% from its overnight high, while mainstream altcoins such as Ethereum, XRP, SOL, and ADA fell 4% to 5% over the same period. The fading optimism that tensions in the Middle East have eased was the main driver of this round of decline, with crude oil futures rising about 4%, and concerns about inflation and supply disruptions resurfaced. In terms of U.S. stocks, Nasdaq fell 1.4% in the afternoon, and the seven major technology giants have all fallen more than 10% from their all-time highs. Among them, Microsoft fell 34%, Meta fell 30%, and Tesla fell 25%. The yield on the 10-year Treasury bond rose 7 basis points to 4.4%. Joel Kruger, market strategist at LMAX Group, said that the recent market trend will likely continue to be linked to the macro. If the path to easing the situation becomes clearer, risky assets including Bitcoin are expected to rise; if uncertainty continues, prices may remain volatile.