Bitcoin experienced a decline on Thursday, dropping by nearly 4% over a 24-hour period. During trading in New York, the asset reached a low of $81 331, reversing gains observed earlier in the week.
The downward movement follows a rise in oil prices, which climbed above $110 per barrel. This surge is linked to reports of attacks by Yemeni Houthis on Saudi Arabia, raising concerns regarding potential oil supply disruptions and regional conflict.
Rising energy costs have intensified inflation fears in the United States, prompting market expectations that the Federal Reserve may increase interest rates. Historically, higher rates have exerted downward pressure on bitcoin and other risk-on assets.
Despite the recent dip, analysts note that bitcoin remains in a bull market after surpassing its 365-day moving average. The asset also recorded its strongest quarterly performance in several years during the preceding period.
