Bitcoin dips below $84,000 as oil jumps on Iranian tanker attacks
In this news:
Key takeaways
- Bitcoin fell below $84,000 amid rising oil prices and geopolitical tensions.
- Brent crude rose nearly 1 percent following increased Iranian tanker attacks.
- Analysts note a break below $83,000 could lead to a quick decline toward $80,000.
“The market had already priced in that hike, so traders are now looking at whether the notes sound patient or still point to one more increase before the end of the year,” he added.
Oil set the tone in Asia. Brent rose almost 1% to about $101.50 a barrel after Iran picked up the pace of its attacks on tankers in recent days. The dollar strengthened against every other Group-of-10 currency, and the 10-year Treasury yield climbed three basis points to 5.31%.
Asian stocks fell even after record closes for the S&P 500 and Nasdaq 100 on Wall Street. MSCI's Asia Pacific gauge dropped 0.6% as tech shares in South Korea and Hong Kong turned lower, and U.S. stock futures reversed earlier gains.
Bitcoin now sits about $1,200 above the $83,000 low that FxPro said would confirm sellers are in control — and the firm sees a break of that level opening a quick path to $80,000.
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