The upcoming Bitcoin halving, which will occur on or around April 16, has, as expected, sparked widespread discussion within the cryptocurrency community regarding where the Bitcoin price could head in the aftermath.

As the event draws near, crypto investors and analysts are also assessing the potential impact on the profitability of Bitcoin mining.

Oil prices settled lower Tuesday, as traders weighed Middle East tensions amid little sign of progress on talks for a ceasefire in Gaza and fresh signs that Israel hasn't given up on plans to launch an offensive in Rafa.           

At 14:30 ET (18:30 GMT), West Texas Intermediate crude futures settled 1.4% lower at $85.23 a barrel, while Brent oil futures expiring in June fell 1.1% to $89.40 a barrel.

Gold prices rose slightly in Asian trade on Tuesday, remaining in sight of record highs as safe haven demand for the yellow metal remained upbeat in anticipation of more cues on U.S. inflation and interest rates.

The yellow metal surged to record highs above $2,350 an ounce on Monday, but came down slightly from those levels as the dollar and Treasury yields remained strong. Safe haven demand for gold also remained strong amid worsening geopolitical conditions in the Middle East and Russia.

The dollar was little changed on Tuesday, with investors cautious ahead of U.S. inflation data to be released on Wednesday, even as the yen hovered near multi-decade lows, keeping traders on alert for any possible action from Japan to prop up its currency.

Economists expect the headline U.S. consumer price index (CPI) to have gained 0.3% on a monthly basis, compared with a 0.4% rise in February, according to a Reuters poll. Core CPI is also expected to climb 0.3% for the month of March.

Amid a robust upswing in the cryptocurrency market, Dogecoin has emerged as a standout performer, with a significant majority of its investors enjoying profits. Data from Altindex.com indicates that over 88% of Dogecoin holders were in profit as of last week, positioning the digital currency as the second-most profitable in terms of investor gains, following closely behind Bitcoin.

Oil prices settled lower Monday after Israel withdrew soldiers from parts of Gaza and committed to renewed dialogue over a potential ceasefire with Hamas, easing Middle East tensions that have threaten to disrupt oil supplies in the region.   

At 14:30 ET (18:30 GMT). West Texas Intermediate crude futures fell 0.6% to settle at $86.43 a barrel Israel, and Brent oil futures expiring in June fell 0.7% to $90.53 a barrel. 

Gold prices surged to record highs in Asian trade on Monday, shrugging off easing bets on U.S. rate cuts as safe haven demand for the yellow metal remained buoyant ahead of more cues on the U.S. economy. 

A rally in gold persisted even as technical indicators showed the yellow metal was squarely in overbought territory- a scenario that usually indicates limited upside potential. 

The dollar slid on Monday as investors focused on U.S. inflation data due later this week, while the yen dipped to near 34-year lows, with traders remaining alert for any potential action from Japanese authorities to support the weakening currency.

The greenback fluctuated last week as traders digested a mixed bag of economic data amid a slowdown in services growth followed by unexpectedly strong hiring numbers that prompted the market to pare bets on Federal Reserve rate cuts this year.