Bitcoin Lower, But Maintains Range as Oil Climbs — Market Talk
Bitcoin is lower, but is still holding onto the $80,000 to $84,000 range. That's even as crude oil rises, a driver for inflation and a factor making assets like bitcoin less ideal to investors looking for more secure places to invest. Bitcoin's ability to maintain these levels is a positive sign for demand, says Lacie Zhang of Bitget Wallet in a note. "Bitcoin's ability to hold above the $80,000-84,000 area while Brent trades above $100-105 [a barrel] amid renewed Middle East tensions points to growing resilience and some degree of decoupling from traditional geopolitical risk," says Zhang. Bitcoin falls 1.2% to $82,643, while ethereum slides 0.2% to $2,530 and XRP is down 1.7% to $1.39. ([email protected])