Brent crude oil prices rose above $116 per barrel, marking the highest level since April. This energy price surge triggered a broader market reaction, impacting both equities and digital assets as investors reassessed the potential for interest rate cuts.
Data from the University of Michigan indicates that consumers expect inflation to remain at 5% over the next year. This persistent inflation outlook complicates the prospects for monetary easing, as central banks may maintain higher interest rates to manage economic pressures.
Major cryptocurrencies experienced a synchronized decline, with Bitcoin falling 3.1% to approximately $81 000 over 24 hours. Ethereum also dropped 3.1% to around $2 400, while Solana slipped 2.9% to $104 and XRP fell to $1.31.
The Fear and Greed Index dropped from 63 to 50 over the past week, shifting from a state of greed to neutral. Despite the broader market pullback, quantum-resistant tokens emerged as an exception, recording a 51.8% gain during the same seven-day period.
