After 2 days without too much volatility Bitcoin closed the week in the red just below the $28,000 area.

BTC price chart – 1 week | Source: TradingView

US stocks

Stock market futures fell on Sunday as an attack on Israel by Palestinian rebels added geopolitical risks to a sector already grappling with inflation and rising interest rates.

Futures contracts tied to the Dow Jones index fell 207 points, or 0.6%. S&P 500 futures fell 0.7%, while the Nasdaq 100 futures index slid 0.6%.

The Israeli-Palestinian conflict escalated into all-out war on Saturday after the militant group Hamas launched an invasion when Israel appeared to be caught off guard. Israeli Prime Minister Benjamin Netanyahu affirmed that Hamas "will pay a very heavy price for this".

WTI crude oil futures rose 2% in early trading on Sunday.

Rising geopolitical tensions could have ramifications for energy markets, with some experts predicting a “sudden spike” in oil prices. Increased tensions could also cause more volatility in the markets, leaving traders worried about persistent inflation and higher interest rates.

Oil prices fell below $90 a barrel last week, with Brent crude sliding about 11%. Although neither Israel nor Palestine are major players in the global energy picture, both countries are located in an important oil region. OPEC+, the oil cartel that includes non-OPEC member Russia, will remain cautious about any moves to expand oil output and change cuts plans, Saudi Arabia's Energy Minister, Crown Prince Abdulaziz bin Salman told CNBC on Sunday.

With the bond market closed for Columbus Day Monday, Wall Street will have to wait until Tuesday for an update on interest rates.

All three major indexes ended last week higher even though a better-than-expected jobs report pushed up Treasury yields and sent stocks lower.

Friday's hotter-than-expected jobs report showed hiring remained strong, with the economy adding 336,000 jobs last month. Meanwhile, wage growth has been low, making investors hope inflation is cooling.

Bond yields eased somewhat as stocks rallied on Friday, but the yield on the 10-year Treasury note hit a 16-year high earlier in the week.

Bitcoin and Altcoins

#Bitcoin continued sideways price action just below the $28,000 area throughout the weekend.

After hitting a local peak at $28,580, Bitcoin's recovery momentum appears to have weakened.

The leading asset attempted to surpass $28,000 two more times after that but all efforts so far have been unsuccessful.

BTC price chart – 1 day | Source: TradingView

Altcoin markets fell slightly over the weekend as Bitcoin continued to fluctuate in a narrow range just below $28,000.

Avalanche (AVAX), Bitcoin SV (BSV), Mantle (MNT), Arbitrum (ARB), ZCash (ZEC), GMX (GMX), Bitcoin Cash (BCH), Casper (CSPR), UNUS SED LEO (LEO), Stacks (STX), Mina (MINA), WOO Network (WOO), Aptos (APT), Optimism (OP)... lost 2-4% of their value during the day.

Source: Coinmarketcap

#Ethereum (ETH) closed 2 consecutive weekends in the red. After a strong rebound in the previous week, ETH closed this past week with a red candle below $1,650, with a loss of nearly 6%.

ETH Price Chart – 1 Day | Source: TradingView

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