Business · Updated 26 Oct, 02:00 pm IST
Bitcoin slips below $80,000 as oil surge and Fed uncertainty weigh
Why it matters for readers: This shows how global economic news can quickly change cryptocurrency prices even when funds are still seeing inflows.
- Bitcoin traded around Rs. 76.1 lakh (about $79,900) after a recent sell-off pushed it to a monthly low near $79,100.1
- Brent crude reached an eight-month high near $116 a barrel, and the 10-year US Treasury yield touched 5 percent, reducing appetite for riskier assets.1
- Ethereum was priced around Rs. 2.21 lakh (about $2,300) while other major altcoins showed mixed momentum.1
- US spot Bitcoin ETFs recorded weekly net inflows of more than $300 million despite the recent price decline.1
- Market support for Bitcoin was noted around $78,000 after the weekend sell-off.1
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