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Bitcoin falls below $66,000 as WTI oil tops $85
Bitcoin slipped to about $65,900 after WTI crude rose above $85 for the first time since June 12, while gold and silver climbed on renewed inflation worries.
Bitcoin retreated from a one-month high, slipping back below $66,000 as surging crude prices revived inflation concerns that have weighed on risk assets, according to CoinDesk.
CoinDesk data showed bitcoin at about $65,937.6, down roughly 0.9% since midnight UTC, while ether fell about 0.5% to around $1,920.
The move followed WTI crude topping $85 per barrel for the first time since June 12, with U.S. oil benchmarks rising as the Iran conflict escalated.
In the rotation within crypto markets, bitcoin’s dominance climbed to 59% as capital moved away from altcoins and stablecoins, while investors also favored havens, with gold up 0.95% to $4,118 and silver gaining 1.2%.
Latest closeGold $4,448.60 ▲2.5%|Silver $65.88 ▲4.0%|WTI crude $82.30 ▲5.3%