Bitcoin Falls to the $63,000 Level as Middle East Tensions Worsen and Oil Prices Surge [Crypto Briefing]

[Financial News] Bitcoin has fallen to the $63,000 range. The decline appears to reflect a surge in global oil prices amid escalating tensions between the United States and Iran.
According to CoinMarketCap on the 10th, Bitcoin was trading in the $63,000 range at 10:20 a.m., down 1.51% from the previous day on a 24-hour basis. Over the past week, Bitcoin has risen 0.79%.
Bitcoin is trading in the 90 million won range on the KRW Market. Based on Cryprice, Korea's premium stands at -0.33%.
As international oil prices have recently surged, expectations for interest rate hikes are growing. In general, higher oil prices lead to inflation, increasing the likelihood of a rate-hike cycle to stabilize prices. During such periods, investor appetite for risk assets such as cryptocurrencies tends to decline.
On the 10th local time, Brent Crude Oil futures for October delivery on the ICE Futures Exchange closed at $87.72 per barrel, up 5.0% from the previous trading day. On the NYMEX, WTI futures for September delivery closed at $82.13 per barrel, up 5.1% from the previous session.
The move came after the United States and Iran each put forward additional demands in talks over a deal. According to foreign media reports, Iran recently delivered six demands to the United States that go beyond the previous Memorandum of Understanding (MOU) signed with Washington in June. In response, U.S. President Donald Trump countered that Iran should instead compensate for past acts of terrorism and other wrongdoing.
The CoinMarketCap Crypto Fear and Greed Index stood at 37 on the day, indicating 'fear.' The index ranges from 0 to 100, with values closer to 0 interpreted as 'extreme fear' and those closer to 100 as 'extreme greed.'
At the same time, Ethereum was trading in the $1,876 range, down 2.01% from the previous day. Ripple was trading in the $1.01 range, down 1.90%.

[email protected] Lim Sang-hyuk Reporter