Following a media address by Israeli Prime Minister Benjamin Netanyahu, oil prices retreated, and U.S. stocks regained some lost ground. However, the crypto market weakened again. Bitcoin ETF inflows snapped a seven-day streak, with BTC briefly dipping below 69,000 yesterday. Consequently, the Fear & Greed Index fell back into the "Fear" zone at 31.

Oil Prices Retreat Following Israeli Prime Minister's Address

Oil prices pulled back following a settlement agreement announced during Prime Minister Netanyahu's address to the media. Netanyahu stated that Israel is assisting the United States in securing the Strait of Hormuz through intelligence and other means. He further declared that Israel would no longer target energy infrastructure, noting that Iran has lost its capacity to enrich uranium and manufacture ballistic missiles, suggesting the war could end sooner than anticipated.

The three-week conflict has disrupted energy supply chains. With the Strait of Hormuz nearly completely closed, gasoline and jet fuel prices have surged. In India, shortages of liquefied petroleum gas (LPG) sparked scuffles, while farmers expressed concern over diesel and fertilizer supplies.

U.S. Treasury Secretary Bessent noted that the U.S. is seeking to lift long-standing sanctions on Iranian oil to mitigate the surge in energy prices caused by the war. Additionally, a Trump administration official stated on Thursday that the White House has no plans to ban oil and natural gas exports.

Bitcoin ETF Outflows Resume; BTC Briefly Dips Below $69K

The crypto market showed renewed weakness, with the total market capitalization dropping 1.37% to 2.41 trillion. Bitcoin briefly fell below 69,000 yesterday, and the Fear & Greed Index retreated to 31, indicating a state of "Fear."

Bitcoin Spot ETFs ended a seven-day streak of inflows, recording a net outflow of 160 million on March 18. This suggests institutional investors are taking profits following the recent strong rally.

Although guidance issued by the SEC and CFTC on March 18 classified mainstream tokens as commodities, the market digested this news amidst an atmosphere of overall caution. Altcoins underperformed, with the Altcoin Season Index dropping 11% within 24 hours.

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.