Bitcoin Returns to $79,000 as Easing US-Iran Tensions Weigh on Oil Prices

According to TechFlow, on September 15, Cointelegraph reported that international crude oil prices fell in response to US President Donald Trump's indication that a military conflict between the United States and Iran was nearing its conclusion. Consequently, the price of the cryptocurrency Bitcoin (BTC) rebounded, returning to the $79,000 level after the opening of US equity markets on Monday and briefly approaching $80,000 during intraday trading.

Driven by these statements, risk-off sentiment regarding high-risk assets has cooled. At present, US WTI crude continues to trade above $100 per barrel, while Brent crude stands at $105. Furthermore, recent data shows intensifying investor worries about tightening macro liquidity. The FedWatch Tool provided by CME Group indicates that traders have raised their estimated probability of a 25-basis-point rate hike by the Federal Reserve on Wednesday to 92.7%, with the target interest rate range expected to increase to 3.75%-4%.