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Bitcoin fell with US stocks at Tuesday’s Wall Street open as Cointelegraph highlighted $78,300 as a key BTC support level. US crude oil meanwhile climbed to a three-month high.
Bitcoin fell below Friday’s post-jobs-report low as oil and copper moved higher. Copper reached a new record, with supply shortages colliding with rising demand tied to artificial intelligence.
Oil prices rose and bitcoin fell nearly 1% after reported U.S. strikes on Iranian crude carriers intensified U.S.-Iran tensions. Brent and WTI gained attention as energy markets moved higher while the leading cryptocurrency declined.
CryptoSlate reports that perpetual contracts are moving from Bitcoin toward possible U.S. oil-market use, with a regulator seeking lawsuit dismissal and reported WTI plans testing the boundaries of American financial markets.
Kalshi reportedly plans to ask the CFTC to approve a WTI crude oil perpetual futures contract. The proposed product would trade around the clock five days a week and would not have an expiration date.
Primavera is reportedly negotiating for three Venezuelan oil fields under a new US-backed framework, CryptoSlate reported. No agreement has been signed and no transfer of the assets has been announced.
Bitcoin met resistance near $77,000 as weaker JOLTS turnover conflicted with an ISM prices reading of 71.1, $90 oil and a 66% probability of a closing Fed hike.
Bitcoin dropped 1% since midnight and fell below $76,500 as U.S. strikes on Iran pushed Brent crude above $93 and Treasury yields toward 4.8%, CoinDesk reported.
Bitcoin traded choppily but held up as oil near $90 and rising bond yields pressured stocks and gold. Gold slid, while a firm dollar remained a headwind for the cryptocurrency.
Bitcoin remains above $78,000 and is on track for its best month since 2017, even as a hawkish Fed, US strikes on Iran and renewed Middle East conflict weigh on stocks and lift crude oil.
Bitcoin held steady after U.S. strikes on Iran pushed oil prices higher and stocks lower. The cryptocurrency has gained 24% in August and is on track for its best month since November 2024.
Crude oil prices surged after overnight military strikes in Iran, while Donald Trump again proclaimed victory. CoinDesk also reported that Bitcoin was approaching a 25% August gain, its strongest monthly performance since November 2024.
Crude oil is surging after overnight military strikes in Iran, CoinDesk reported, while Bitcoin trades near $78,000. The update also says Strategy bought BTC for the first time since late June.
Bitcoin barely reacted to the latest U.S.-Iran escalation as oil prices rose and stocks fell. CoinDesk reported that BTC remained August’s best-performing asset despite the broader geopolitical market pressure.
