IEA Unleashes Record Oil Reserves as Bitcoin Holds $70,000 Level

The International Energy Agency (IEA), comprising 32 member countries, recently agreed to release a total of 400 million barrels of crude oil from emergency strategic reserves. This marks the largest coordinated stock release in the organization's 50-year history. IEA Executive Director Fatih Birol stated during the meeting that the move aims to address tensions in global energy markets and stabilize oil price fluctuations. Currently, IEA member countries hold over 1.2 billion barrels of public emergency crude oil reserves, with an additional 600 million barrels in industry reserves under government supervision, providing ample buffer capacity. Although the official timeline for the release was not specified, it was indicated that the oil would be released into the market in phases based on the actual situation of each country to ensure a smooth transition. The reserve release, coupled with market expectations of easing geopolitical risks, drove crude oil prices down from a war-time high of $119 per barrel to $82, a drop of 32% within just 18 hours. One of the key focuses of the market – the Strait of Hormuz – its shipping recovery progress is still regarded as a crucial variable affecting the smooth flow of global oil routes. Since Iran closed the waterway, millions of barrels of crude oil shipments per day have been disrupted, and there has been no substantial signal of a restart to date. Against the backdrop of a significant correction in energy prices, market risk aversion has eased somewhat, and the Bitcoin price has rebounded by approximately 7% from Monday's low, remaining stable above $70,800. Although the crypto market sentiment index remains at a level of 15, indicating "Extreme Fear" (source: Alternative.me), investors' concerns about macro risks are gradually being diluted by actual improvements in supply and demand. Notably, Bitcoin spot ETFs recorded a net outflow of approximately $3.8 billion in February 2026, the largest monthly outflow since their launch in January 2024, reflecting continued hesitation in the short-term market. However, as traditional energy markets stabilize, crypto assets may usher in a new window for sentiment recovery.