Bitcoin Slips Below $82,000 as Oil Fuels Rate Concerns
Bitcoin fell below $82,000 Tuesday as rising oil prices and inflation concerns weighed on expectations for interest-rate cuts.
Key takeaways
- Bitcoin fell to 81 thousand 793 dollars Tuesday, according to Dünya.
- FedWatch data put the odds of an October rate increase at 18%.
Bitcoin fell to 81 thousand 793 dollars on Tuesday, dropping about 1% and slipping below $82,000, according to Dünya. It had traded above 83 thousand dollars the previous session but failed to hold those gains.
Oil prices added to inflation and interest-rate concerns. Brent crude reached $111.05 a barrel, its highest level in five months, amid attacks on Saudi energy infrastructure and worries about supply disruptions in the Middle East.
FedWatch data put the probability of a rate increase at 18% for the Fed’s October 27-28 meeting and 75% for December. Separately, Bitcoin was at $82,448, up 0.62% over 24 hours, as of Tuesday 18:50 UTC.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
