Bitcoin is trading near $64,000 this Monday, holding relatively steady even as traditional markets see sharp moves. Brent crude oil jumped nearly 4% to a one-month high after escalating US-Iran strikes rattled energy markets. Meanwhile, Asian chip stocks remain under pressure following Friday's selloff triggered by the launch of a new AI model from Chinese startup DeepSeek.
Oil surges on Middle East fears
Brent crude hit its highest level in a month, rising almost 4% as the US launched fresh strikes against Iranian targets. The escalation has traders pricing in potential supply disruptions from the Strait of Hormuz. The move pushed energy stocks higher in early trading, but broader risk appetite remains fragile.
DeepSeek rattles chip sector
Asian semiconductor stocks are still reeling from Friday's rout. The selloff began after Chinese AI startup DeepSeek released a model that could rival Western offerings at a fraction of the cost. That raised fears of oversupply and margin compression for chipmakers. Taiwan's TSMC and South Korea's Samsung both saw heavy losses on Friday, and the pressure hasn't let up this week.
Bitcoin holds its ground
Bitcoin's resilience near $64,000 stands out against the volatility in oil and equities. The largest cryptocurrency has been range-bound for much of July, but hasn't broken below $60,000 despite the macro uncertainty. Some traders are watching for a breakout, though the lack of a clear catalyst keeps the market in wait-and-see mode.
All eyes are on the US-Iran situation and any further developments from DeepSeek. Oil traders will be watching for diplomatic signals, while chip investors await earnings from major manufacturers later this week. Bitcoin's next move may depend on whether the broader risk-off mood deepens or fades.
