As Oil Moves Higher, Bitcoin Sinks to Lowest Price Since March
Crypto fell with U.S. stocks as Middle East tensions pushed oil higher and revived inflation fears. Bitcoin dropped 2.4% to about $65,699, its lowest since late March; Ethereum and Solana each fell around 5%. The selloff followed reports that U.S. forces intercepted Iranian missiles and drones and carried out strikes near the Strait of Hormuz, a critical route for global oil flows. Brent crude rose to a 12-day high near $96 a barrel, while the U.S. 10-year Treasury yield climbed to 4.5%, signaling concern about higher energy costs and fewer chances of near-term Fed easing. Analysts said the move reflected continued crypto weakness, fading Wall Street optimism, and a possible “capitulation” phase in Bitcoin, with many recent sellers having bought above $90,000.
