Bitcoin Climbs Back Above $65K as Geopolitical Tensions Ease

Bitcoin pushed back above the $65,000 level this week after a two day period without military strikes between the United States and Iran. This change in tone helped settle nervous energy in global markets, which previously reacted sharply to the prospect of conflict.

Energy markets are showing a similar shift in mood. Oil prices dropped by six percent as traders moved away from riskier assets and focused on signs of stability. This retreat in energy costs is helping to calm investor fears regarding inflation, which often dictates how the Federal Reserve manages the economy.

Investors are now looking toward the Federal Open Market Committee meeting scheduled for July 29. Most market participants expect the central bank to keep interest rates steady for now. Traders will be watching the official update closely to see how the Fed views the current state of the economy.