Bitcoin holds near $80,000 as oil retreats and the Fed decision looms

Bitcoin has remained relatively stable near $80,400 since midnight UTC, according to CoinDesk. While most indices remained steady, the DeFi index was the only one to see gains ahead of a Federal Reserve decision due on Wednesday.

Gold is consolidating modest gains, trading around $4,016, according to FXStreet. This follows a sharp decline last week that brought the metal to $3,975. A pullback in oil prices is providing support as traders monitor diplomatic efforts to reduce Middle East tensions. Reuters reported that officials from Saudi Arabia, Pakistan, and Turkey are meeting with Iranian leaders in Tehran to discuss Israel’s policies, developments in Lebanon, and the US war against Iran. These discussions follow similar talks between Qatari mediators and Iranian officials on Sunday.

West Texas Intermediate (WTI) oil has eased to approximately $100.39 per barrel after reaching a high of $103.28 on Friday. Last week, oil prices rose, which reinforced expectations of further Federal Reserve tightening and outweighed support from a softer US Dollar and falling US Treasury yields.

Brief written by urgent.news from CoinDesk, FXStreet — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.