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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.
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 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.
