Bitcoin

Geopolitical risk is already elevated, and this event reinforces a 'risk-off' narrative that has been weighing on crypto markets (BTC -2.87% in 24h, Fear & Greed at 11). Higher oil prices could compound inflation fears, delaying central bank rate cuts and tightening liquidity for speculative assets. Meanwhile, extreme fear readings historically precede sharp reversals, but this event may delay any relief rally.

Ukrainian drones struck oil storage facilities near St Petersburg, Russia, on the opening day of Putin's flagship economic forum.