Svmuu News: Despite the Middle East situation causing oil prices to surge, Bitcoin is trading at approximately $67,000, without any panic selling, suggesting the market may have bottomed out. Analyst Brian Brookshire noted, "Bitcoin not falling when the broader market is under pressure is one of the strongest bottoming signals." Early Monday in Asian trading, WTI Crude Oil briefly rose to $119/barrel, a new high since Russia's invasion of Ukraine in 2022. Iraq warned that global daily crude oil production of approximately 3 million barrels could be affected due to Iran's threats to tankers in the Strait of Hormuz. Analysis from The Kobeissi Letter indicated that this situation is "the largest oil supply shock in history," with a daily loss of nearly 20 million barrels of crude oil supply. Soaring oil prices exacerbate global inflation concerns, leading the market to expect almost no interest rate cuts from the Federal Reserve in 2026. Polymarket data shows that the probability of the Federal Reserve maintaining interest rates on March 18 is about 99%, with only about a 27% chance of a 25 basis point rate cut. Unchanged interest rates typically tighten financial conditions, boost the dollar, and exert short-term pressure on Bitcoin. Technically, BTC/USD, despite being rejected at the $74,000 resistance level, recorded its "first positive weekly candle in 7 weeks" and formed an "inverted hammer pattern," which could signal a potential bullish reversal. Nic, founder and CEO of CoinBureau, stated that this price action brings "potential bullish signals" to the market. (Cointelegraph)