Welcome to the Morning Crypto News Bulletin in the US—providing you with the most important crypto information of the day.
Today, BeInCrypto will explore the impact of geopolitical tensions on Bitcoin (BTC) in the context of escalating tensions between Israel and Iran in the the Middle East. East. The potential impacts of escalation this point spread to the crypto markets, potentially investor portfolios.
Crypto News of the Day: Iran Attack Could Push US Inflation to 5%
In a previous US Crypto NewsInreported thatPI Consumer Price IndexPrice) showed inflation slightly decreased to 4. This result was than market expectation. 5%, and accompanied by positive developments in US-China trade negotiations.
However, JPJPMorgan predicts US CPI inflation could reach 5% if Israel attacks Iran. This forecast appears in the context of expected impact on oil prices.
In fact, an attack on Iran could disrupt its oil exports (around 1.5 million barrels/day). The country owns rich oil resources and is the third-largest producer in opp>Any disruin market supply could cause shortages, with JPMorgan forecasting oil prices rising to 120 USD.<.<>
Oil Price YTD>>an overview, oil prices increased 4% on on 11/06, reaching a two-month high as Middle East tensions escalate. This surge occurred with reports that the US is preparing to evacuate its embassy in Iraq to security concerns.
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