Bitcoin rose nearly 1% toward $71,200 in mid-February, extending its rally to a fifth consecutive session as the cryptocurrency remained largely insulated from escalating tensions in the Middle East. The latest flare-up in the region involved attacks on two fuel tankers in Iraqi territorial waters and strikes on commercial vessels transiting the Strait of Hormuz, a critical chokepoint for global oil supplies. The incidents have pushed energy prices higher, reviving concerns about resurgent global inflation and prompting major central banks, including the Federal Reserve, to signal a hawkish stance, potentially putting pressure on risk-sensitive assets such as cryptocurrencies. Investors are now closely watching upcoming US economic data for further clues on the Fed’s monetary policy outlook. Despite these uncertainties, capital has recently begun flowing back into Bitcoin after months of selling pressure drove prices to roughly half of the record high above $126,000 reached in October.
