Bitcoin nears 3-week low as oil heads higher on Iran strike woes
Summary
Bitcoin fell to $81,000, its lowest since Sept. 21, and threatened the closely watched $82,500 support as reports of possible renewed US strikes on Iran pushed oil prices higher. WTI reached $93.20 per barrel and Brent $105.88. Rising fuel and inflation concerns contributed to a 24-year high in the US 30-year bond yield, while Fed Governor Christopher Waller said further rate hikes may be needed. Markets put the odds of a quarter-point December hike above 70%. Bitcoin’s drop also coincided with about $430 million in cross-crypto long liquidations. Traders were watching whether BTC could reclaim $82,500, a level analysts described as pivotal to its market structure.
