Surge in Oil Prices and Decline in Cryptocurrency Market Value in the Last 24 Hours

In the last 24 hours, the price of Brent crude oil increased by more than 2% to around $101.10, due to escalating conflicts in the region and a decrease in oil flow from the Strait of Hormuz. This situation has heightened the likelihood of persistent inflation and the continuation of tight monetary policies. Additionally, the yield on ten-year Japanese bonds reached around 3%, intensifying the pressure from high interest rates on the markets. Meanwhile, the weakness of the dollar index around 98.8 and increased tensions in the Middle East negatively impacted bond yields, pushing gold prices up by 0.30% to approximately $4,428. The cryptocurrency market also faced pressure from rising bond yields, with the total market value declining by 1.47% to $2.67 trillion. Bitcoin fell by about 0.96% and traded around $78,382. In the Iranian market, rising political risks and an increase in exchange rates led to Tether rising by 3.28% to 237,150 tomans and 18-carat gold increasing by 4.95% to 24,848,000 tomans. U.S. inflation data, the Federal Reserve's next decision, and developments in the Strait of Hormuz are the three main factors determining the short-term direction of the markets.

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