Midweek technical look – US500, Oil, BTC/USD [Video]

Oil at six-week highs amid widening Mideast tensions.
US500 extends losses, testing key SMA support near 7,500.
BTCUSD rebound pauses above 65,000.

Nicole Zeniou XM

Oil hits six-week highs as Middle East tensions escalate fuelling inflation concerns, while the US500 and Bitcoin extend losses following mixed performance from technology stocks. Can key support levels hold?

Author

Nicole Zeniou

Nicole joined Trading Point as a Market Analyst in January 2025. She holds a BA in English Literature from Kingston University, London, and an MA in Applied Linguistics (Research Methodology) from the University of Southampton with distinction.

GBP/USD dips below 1.3350 as USD demand surges

GBP/USD extends its intraday slide and struggles around 1.3350 early in the American session on Thursday. The pair's upside remains capped by a US Dollar bounce and cooler-than-expected UK inflation data amid escalating Middle East tensions.

EUR/USD falls below 1.1400 post ECB decision

The US Dollar gains momentum on Thursday as Middle East concerns fuel demand for safety. The Euro, in the meantime, came under selling pressure following the ECB monetary policy decision. EUR/USD down to fresh weekly lows around 1.1380.

Gold slides further below $4,100 as fears lead

Gold keeps retreating on Thursday, trading well below $4,100 early in the American session. US crude oil prices climb to a fresh six-week high toward $90 amid a further escalation of tensions between the US and Iran, fueling inflation fears and bolstering US Fed interest rate hike expectations. Hawkish Fed bets weigh negatively on the yieldless bullion.

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.

Bitcoin falls as surging Oil prices revive inflation concerns

Bitcoin extends its correction, trading below $65,800 after a modest decline in the previous day. Despite BTC’s fading strength, US-listed spot Bitcoin Exchange Traded Funds continued to attract institutional inflows on Wednesday, marking the seventh consecutive day of gains.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.