Bitcoin surged past $72,000 following Israeli PM Netanyahu's announcement of ceasefire discussions with Lebanon. This rise appears buoyed by positive developments in Middle Eastern diplomacy. Market attention is now focused on upcoming US economic indicators, particularly inflation data, amid the US-Iran conflict.
The US-Iran ceasefire is fraying due to the Israeli-Lebanese conflict, while traffic through the Strait of Hormuz remains minimal. This supply uncertainty is driving up oil prices and increasing volatility in global markets. The US President criticized Iran over the strait passage, escalating regional tensions.