Bitcoin (BTC) rose to $72,000 despite rising recession odds and a weak US dollar, boosting the appeal of scarce financial assets. However, rising oil prices and a fragile ceasefire with Iran could negatively impact Bitcoin's gains. The US Bureau of Economic Analysis showed inflation and weak economic growth, leading traders to become less risk-averse due to the potential for the US government to inject liquidity to support markets. This has led to a weaker US dollar when measured against a basket of foreign currencies. The S&P 500 index futures also rose to their highest levels in 30 days, while WTI crude oil prices dropped below $100. Despite these concerns, Bitcoin seems to have merely followed investor expectations regarding the Iran war rather than macroeconomic data.