Bitcoin continued its upward trend on Tuesday as concerns about potential oil supply shocks eased, boosting risk appetite in global markets. The International Energy Agency (IEA) announced on Tuesday that it would hold an unconventional meeting to discuss whether to release emergency oil reserves. WTI crude oil prices subsequently fell to $82, after surging to nearly $120 over the weekend, while the S&P 500 and Nasdaq 100 indices rose about 0.5% in midday trading. Crypto-related stocks also rose: stablecoin issuer Circle (CRCL) rose 6%, with a cumulative increase of nearly 100% in two weeks; digital asset infrastructure company BitGo (BTGO) rose more than 8%; and blockchain company Figure (FIGR) rose 12%. Stack BTC (STAK), a UK-based Bitcoin treasury company, saw its stock rise more than 200% after announcing the addition of Nigel Farage. The correlation between Bitcoin and the software stock ETF (IGV) is weakening, suggesting that BTC may begin to exhibit more independent price movements during periods of macroeconomic uncertainty. (CoinDesk)