Bitcoin (BTC) slipped beneath the $81,000 mark at the opening of the U.S. trading day on Friday, a dip that coincided with a pullback in equities and a fresh seven‑month high for Brent crude oil. The cryptocurrency touched $80,988 on TradingView data before clawing back to roughly $81,600 as the article was written.
The price action is now centred on the 50‑day simple moving average (SMA) of $81,781, a technical level that many market participants view as a key support‑resistance barrier. Material Indicators co‑founder Keith Alan warned on X that if Bitcoin fails to stay above the SMA by the close, a retest of the $78,000‑$80,000 zone could follow.
On the equity side, the S&P 500 slipped 0.6 % and the Nasdaq Composite fell 0.2 %, while the Dow Jones Industrial Average dropped 1.4 % as investors grew risk‑averse amid concerns over AI‑related spending and rising oil prices. The U.S. 10‑year Treasury yield hovered just under 5 %, at 4.939 % on Thursday – its lowest level since September 23.
Brent crude surged to $116 per barrel, a price not seen since March 19, driven by heightened tensions in the Middle East and speculation that the United States could renew strikes against Iran ahead of the mid‑term elections. WTI crude also breached $102 a barrel, its highest since September 16.
Economist Robin Brooks noted that oil flows through the Persian Gulf have returned to near‑pre‑war levels for many nations, and Saudi Arabia’s export volumes have even surpassed its pre‑conflict average. He described the current market dynamics as a “huge risk premium” that has decoupled prices from physical flows.
Previously, Cointelegraph reported that the $80,000‑$81,500 band hosts the aggregate cost basis for investors holding spot Bitcoin exchange‑traded funds (ETFs), adding another layer of support to the price.
The confluence of a volatile oil market, softening equity indices and Bitcoin’s flirtation with a critical moving average leaves the crypto’s short‑term trajectory uncertain, with the next few hours likely to set the tone for the remainder of the week.
