Bitcoin climbs to near $72,000 after Treasury Secretary Bessent attempts to calm oil fears
- Oil prices surged nearly 10% to nearly $100 per barrel on Thursday.
- U.S. Treasury Secretary Scott Bessent announced measures to stabilize energy prices.
- Following Bessent’s announcement, Bitcoin rose by approximately 2.2%, reaching just below $72,000.
- WTI crude oil has since pulled back about $2 per barrel, currently trading at $95.22.
The U.S. Treasury’s temporary authorization for countries to purchase stranded Russian oil aims to alleviate market tensions caused by rising oil costs. This move comes as the stock market experiences significant losses linked to the spike in energy prices.
As a result of these developments, Bitcoin has climbed close to $72,000 amidst fluctuating oil prices and economic concerns. (Source)
