Bitcoin Shows Strength at $67K Amid Oil Surge and Inflation Fears

Bitcoin traded above $67,000 on Monday after posting its first bullish weekly close in seven weeks. Oil futures jumped to $119 per barrel in early Asian trading as the Middle East conflict raised fears of supply disruptions. Iraq warned roughly 3 million barrels per day of production could be disrupted by Iranian threats in the Strait of Hormuz, and The Kobeissi Letter called the situation the "largest oil supply shock in history," citing a loss of nearly 20 million barrels daily.

US President Donald Trump said it’s a "small price" to pay for peace. The surge revived global inflation worries and reduced expectations for rate cuts in 2026. Polymarket bettors priced a roughly 99% probability that the Federal Reserve would leave rates unchanged at its March 18 meeting, with about a 27% chance of a 25-basis-point cut in 2026.

Leaving rates unchanged tightens financial conditions, boosts the dollar and can pressure Bitcoin as capital rotates into safe havens.

bitcoin, 67k, oil prices, $119, middle east, hormuz, iraq, inflation, federal reserve, dollar