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Bitcoin stays around $77,700
Bitcoin remains steady near the level of $77,760, with a slight increase of 0.8% after nearly a 3% loss last week. Traders are cautious due to the repercussions of the Middle East conflict and expectations that the U.S. Federal Reserve will raise interest rates later this week. Bitcoin's stability coincided with declines in other risky markets, driven by oil prices climbing above $108 per barrel due to the Houthi escalation against Saudi Arabia, fueling global inflation concerns. The market is also awaiting the U.S. Congress vote on cryptocurrency regulation legislation, amidst banking sector disagreements, while alternative coins experienced some modest gains.
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