Bitcoin faces key support test at $78.3K as US crude oil hits three-month high
Bitcoin fell below $78,000 at the Wall Street open as renewed Middle East tensions hit risk assets. BTC briefly dropped to about $77,600, its lowest level since Sept. 3, while the S&P 500 and Nasdaq each slipped modestly. Oil prices surged in response: WTI moved toward $95 per barrel and Brent approached $100, intensifying concerns about inflation ahead of Friday’s CPI release. Market commentary linked the move to rising diesel prices and broader inflation pressure. On Bitcoin, analyst Rekt Capital said the current ~$78,300 area is a key support test, comparing it to a failed May breakout that reversed after a similar retest. A weekly close below that level, followed by a bearish retest, could confirm a breakdown and keep the broader bear-market structure intact.
