Global Markets Experience Turmoil Amid Economic Uncertainty

The global markets were affected by a series of economic indicators and geopolitical events on Thursday.

Bitcoin's price plummeted to $70,817 after the Federal Reserve announced that it would maintain current interest rates while expressing heightened inflation concerns. The central bank increased its 2026 inflation projection from 2.4% to 2.7%, indicating a potential postponement of anticipated interest rate reductions.

The oil market was also volatile following Iran's attacks on energy infrastructure in the Middle East, causing Brent crude oil prices to surge beyond $115 per barrel. This led to rising bond yields and a strengthening US dollar, which had a negative impact on both cryptocurrency markets and traditional equities.