Bitcoin rises above 71k despite oil rising and stocks falling

Bitcoin is climbing to a weekly high even as global markets struggle with the fallout from the escalating conflict in the Middle East. 

Oil prices have surged back above $100 per barrel despite attempts to contain them, raising fears of renewed inflation pressures. The rise in energy costs has pushed Treasury yields higher and strengthened the U.S. dollar, tightening financial conditions across global markets. 

That pressure has been visible in traditional assets. The S&P 500 fell 1.5% yesterday, putting the index on track for a third straight weekly decline. Even gold — typically a safe-haven asset during periods of geopolitical stress — has struggled, falling 1.6% this week as the stronger dollar weighs on prices. 

Normally, such conditions would trigger a broad sell-off in risk assets, including cryptocurrencies. However, Bitcoin has shown surprising resilience. BTC is on track to rise roughly 7% this week, marking its strongest weekly gain since mid-November. The price is attempting to break out of its recent range. 

The contrast suggests that selling pressure in Bitcoin may be fading after months of declines. The cryptocurrency has already endured a sharp drawdown earlier this year, which may indicate signs of seller exhaustion. As a result, BTC’s downside sensitivity to macro shocks appears to have diminished. 

At the same time, large investors are starting to return to the market. Whale accumulation has increased, while institutional demand is picking up after months of weakness. Spot Bitcoin ETFs recorded their fourth consecutive day of net inflows on Thursday — the longest streak since early January, when Bitcoin traded near $97K. 

Looking ahead, developments in the Middle East will remain the key driver of market sentiment. U.S. core PCE data is also expected to show inflation rising to 3.1% year-on-year in January from 3% in December. However, the report may have limited market impact, as it reflects conditions before the recent surge in energy prices caused by the Iran conflict. 

If oil prices remain elevated and Treasury yields continue rising, Bitcoin could face renewed pressure alongside other risk assets. However, if institutional inflows persist and geopolitical tensions ease, the current rebound could extend further — potentially marking the early stages of a broader recovery in the crypto market. 

Ripple partners with Mastercard 

XRP is gaining momentum on reports that Mastercard is exploring collaboration opportunities with Ripple and its blockchain-based payment infrastructure. The partnership highlights the increasingly important role of blockchain technology in global payments, which is expected to aid seamless cross-border transfers, lightning-fast business-to-business payments, and more instant global payout systems. 

Meanwhile, activity on the XRP Ledger has increased with daily transactions near 2.7 million and about $461 millon in tokenised real-world assets. These figures suggest improving ecosystem fundamentals. However, institutional demand is less supportive, with XRP ETFs recording net outflows for a second week this week. Institutional demand would need to improve for XRP to book more sustained gains. 

XRP/USDT technical analysis 

XRP/USDT trades within a triangle pattern. The price has risen above the 20 SMA and is testing the falling trendline resistance at 1.43. A rise above here and the 1.4950 horizontal resistance, along with the 50 SMA, could spur a stronger recovery towards 1.6650, the February high. 

However, the longer-term trend is still bearish. Failure to break out of the topside of the triangle could see the price test the falling trendline support at 1.3610. A break below here opens the door to a deeper decline to 1.1180, the 2026 low. 

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