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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.

Reported · Written up by our desk · Bitcoin

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 $4,157.80 ▲0.4%|Silver $59.48 ▼0.7%|WTI crude $91.10 ▲3.2%

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