Bitcoin Holds Above $79,000 as Brent Crude Tops $100
Iran’s strikes intensified geopolitical tensions across global markets, driving up crude prices on renewed concern over energy supplies while weighing on equities. Brent’s return to $100 a barrel raises the prospect of another inflationary shock and added pressure on economic growth. Bitcoin’s resilience, meanwhile, is testing whether the cryptocurrency can decouple from risk assets during a broad market selloff.
Brent crude touched $100 a barrel for the first time since July as equities declined following the Iranian attacks. Bitcoin climbed and remained above the key $79,000 level, outperforming other risk-sensitive assets despite heightened volatility. Haven demand also spread to foreign exchange markets, with the yen extending gains against the dollar and moving through the 153-per-dollar threshold at one point.
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The history behind this eventBitcoin Retreats as Oil Tops $85 and Inflation Fears Return
Oil’s climb above $85 a barrel has revived concerns that higher energy costs could keep inflation elevated and delay monetary easing by major central banks. That backdrop is weighing on risk assets, including cryptocurrencies. Bitcoin had benefited from defensive flows within digital-asset markets, but it remains sensitive to shifts in inflation expectations, interest rates and the U.S. dollar.
Bitcoin pulled back to around $65,900 after reaching its highest level in a month, as the oil-price surge cooled risk appetite. Capital continued to concentrate in the largest cryptocurrency, lifting Bitcoin’s share of the digital-asset market to 59%. Even so, trading remained active in parts of the altcoin market, while some tokenized real-world asset, or RWA, projects extended their gains.
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