The post Bitcoin Shows Strength at $67K Amid Oil Surge and Inflation Fears appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) traded above $67,000 on Monday after posting its first bullish weekly close in seven weeks. Meanwhile, oil prices surged as the Middle East conflict prompted fears of a major supply shortage. Key takeaways: Bitcoin holds firm above $67,000 as oil prices surge to the highest level since 2022. Analysts warn that the oil supply shock could trigger global inflation concerns. A bullish inverted hammer on the weekly chart suggests a potential BTC bottom. Global oil supply shock sparks inflation worries Data from TradingView showed oil futures rose to $119 per barrel during early Asian trading hours on Monday, as the escalating Middle East conflict raised fears of supply disruptions. This is the highest price oil has reached since Russia invaded Ukraine in 2022. Oil prices per barrel, $. Source: Cointelegraph/TradingView The latest surge in oil prices came as Iraq warned that roughly 3 million barrels per day of production could be disrupted due to Iranian threats against tankers in the Strait of Hormuz. Related: Bitcoin preps fresh trend line showdown as weekly close sparks $60K target Capital markets commentator The Kobeissi Letter said the world is now experiencing the “largest oil supply shock in history,” losing nearly 20 million barrels of oil supply daily. Source: The Kobeissi Letter Despite the exploding oil prices, US President Donald Trump said it’s a “small price” to pay for peace. “Short-term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and world, safety and peace.” Meanwhile, the sharp rise in oil prices and the imminent supply shock has revived global inflation concerns, with markets seeing few chances of rate cuts in 2026. Polymarket bettors are pricing in a roughly 99% probability that the Federal Reserve leaves…

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Filed under: News - @ March 10, 2026 2:23 am