Bitcoin trades at $64,830, up 0.8% daily, driven by macro hopes including lower oil prices and cooling inflation expectations.
Bitcoin hovered near $64,830 on Thursday, rising 0.8% over 24 hours and 1.3% for the week, as macroeconomic optimism supported risk assets. Ether gained 2.1%, while other major cryptocurrencies showed muted movement, reflecting cautious market sentiment.
The rally stems from expectations of lower oil prices, cooling inflation, and potential easing in Treasury yields and the dollar. Comments from President Donald Trump highlighted strong employment, improved manufacturing data, and the possibility of reopening the Strait of Hormuz, which could further pressure oil.
Bitcoin’s 63% correlation with the S&P 500 suggests equity sentiment may outweigh crypto-specific flows in the near term. Key levels to watch include real yields and the dollar; if both decline alongside oil, bitcoin could break out of its recent range.