Bitcoin steady near $64K amid oil surge and tech sell-off

Bitcoin hovered near $64,000 as oil surged and tech stocks fell after China's Kimi K3 launch. Crypto markets declined, with risk appetite limited by geopolitical and inflation concerns.

Bitcoin traded within a narrow range of $64,000 to $65,000 as markets reacted to oil prices surging above $90 per barrel. This spike was driven by escalating US-Iran tensions and disruptions in the Strait of Hormuz. Bitcoin briefly dipped to around $63,900, marking a 1.3% daily drop, but remained up 2-3% over the week. The broader crypto market also saw declines. Ether, BNB, XRP, and Dogecoin posted slight losses, while Hyperliquid's HYPE token fell 8-10% for the week. Rising oil prices revived inflation concerns, increasing the likelihood that central banks will maintain tight monetary policies. A sell-off in tech stocks, triggered by the launch of China's Kimi K3 AI model, added to market volatility and risk aversion. The Crypto Fear & Greed Index remained in 'Fear' territory at 29, with Bitcoin dominance near 70% and the total crypto market cap at about $1.86 trillion. Investors stayed cautious amid ongoing geopolitical tensions and uncertainty in energy and tech sectors.