The cryptocurrency market this week has been significantly influenced by geopolitical tensions and rising oil prices, according to QCP. The risk in the Strait of Hormuz has driven oil prices higher, increasing inflation expectations and leading to a rise in U.S. Treasury yields. Bitcoin (BTC) and Ethereum (ETH) saw gains on Thursday, reaching approximately $73,300 and $2,153 respectively, fueled by ETF inflows and a resurgence in derivatives leverage. However, both cryptocurrencies experienced slight declines on Friday amid macroeconomic fluctuations. The short-term trajectory of the market remains dependent on changes in oil prices and interest rates.