Bitcoin approaches $72,000 as Treasury Secretary addresses oil supply concerns

Bitcoin traded near $71,860 following comments from U.S. Treasury Secretary Bessent, who announced that the Treasury Department will grant temporary authorization for countries to purchase Russian oil currently in transit. The move appeared to ease market concerns about potential oil supply disruptions. Bessent’s statement suggests efforts to stabilize energy markets, which analysts note can influence risk sentiment across broader financial markets including cryptocurrencies.