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Bitcoin slips as Iran war expansion lifts oil above $90 a barrel

WTI crude jumped nearly 5% to about $91 per barrel, while the 10-year U.S. Treasury yield rose to 4.70%.

Reported · Written up by our desk · Bitcoin

Bitcoin edged lower as heightened tensions tied to an Iran conflict expansion pushed oil higher, with CoinDesk reporting that WTI crude surged nearly 5% to around $91 per barrel.

The oil rally increased pressure across markets, CoinDesk said, with the 10-year U.S. Treasury yield up 4 basis points to 4.70% and the 2-year yield rising to 4.33%.

CoinDesk added that traders have priced in nearly 40% of a Fed rate hike next week, while Bitcoin was down about 0.5% over the past 24 hours to roughly $65,500.

In parallel, the outlet noted that U.S. Nasdaq 100 futures were lower by 0.75%, led by a 4% drop in Google after its earnings report.

Latest closeWTI crude $95.27 ▲3.4%|Bitcoin $84,310.25 ▼0.1%|Nasdaq Comp. 26,749.30 ▼0.7%

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