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"Bitcoin rises $3,000 after U.S. strike on Venezuela... Oil market variables in focus"

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Minseung Kang
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  • After the U.S. military attack on Venezuela, Bitcoin's price reportedly rose by about $3,000.
  • Markets are focusing on the possibility of increased volatility at the time of the opening of the oil futures market.
  • It reported that Venezuela's enormous oil reserves and the potential for U.S. control make additional volatility in financial markets, especially the oil market, inevitable.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.
photo=Shutterstock
photo=Shutterstock

Following a U.S. military strike on Venezuela, the price of Bitcoin (BTC) rose by about $3,000, but some analysts suggest that significant volatility may appear after the oil futures market opens.

According to crypto asset (cryptocurrency) specialist media CryptoPotato on the 4th, Bitcoin rebounded quickly after a short correction following the initial shock in Caracas and rose to around $91,800. This is the highest level since December 12 last year. It then pulled back slightly and is currently trading around $91,300.

Bitcoin has risen by about $3,000 from its low since the U.S. attack on Venezuela began. With traditional financial markets closed over the weekend, the crypto market showed relatively active trading and most assets rose.

Notably, some tokens reportedly associated with President Donald Trump showed pronounced volatility. The World Liberty Financial (WLFI) token surged 14% in one day, and the OfficialTrump (TRUMP) token also rose by about 7%, ranking among the top gainers in the market.

Markets are paying attention to the possibility of increased volatility around the opening of oil futures trading. President Trump mentioned that the U.S. would manage Venezuela's oil industry, and some analysts point to the resumption of oil futures trading on the 4th (local time) as a key turning point.

The market analysis newsletter Kobeishi Letter analyzed, "Venezuela holds more than about 300 billion barrels of oil reserves, and these resources could come under U.S. control." Assuming a price of $57 per barrel, the total reserve value is calculated to be about $17.3 trillion.

Kobeishi Letter explained, "Even if that oil were sold at half the market price, it would be about $8.7 trillion, exceeding the gross domestic product (GDP) of all countries except China and the United States." It also warned, "Most do not realize how greatly this incident has changed the world order," and "additional volatility in financial markets, particularly after the oil market opens, is inevitable."

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Minseung Kang

minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.

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