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Bitcoin Slides 2% as Oil Surges 10.5% After Tanker Attacks
Bitcoin (BTC-USD) traded lower Thursday as a sudden spike in oil prices rattled risk sentiment across global markets, underscoring how geopolitical tensions in the Middle East are continuing to shape investor positioning. The largest cryptocurrency slipped as much as 2% and hovered near $70,000 early in New York after attacks on two oil tankers in Iraqi waters pushed energy markets sharply higher. Brent crude surged as much as 10.5%, briefly lifting oil back above $100 a barrel and prompting a broad risk-off move that extended into equities and digital assets.
Oil tops $100 again
Iran is continuing with strikes , and new leader is threatening to keep blocking Strait of Hormuz
Brent crude touched $101 before retreating as Iran stepped up its attack on Gulf infrastructures.West Texas Intermediate crude futures (CL.1) (CLJ26) were climbing 9.3% to $95.35 a barrel, while Brent crude (BRN00) (BRNK26) was advancing by 8.7% to trade at $100.01.
Brent oil touched a high of $101.25 overnight, according to FactSet data.
Commodity-price volatility is here to stay.
Brent crude oil Chart
US FX WRAP: Dollar gains as traders no longer fully price one 25bps Fed rate cut in 2026
XAUUSD (GOLD) UPDATE
- On the defensive with a firmer USD, higher US yields and failure this week to hold a breakout above 5200 weighing on GOLD.
- However, this is still just back into its 5000-5200 range unless a more exposed 4996, currently protected by 5050 and 5014 comes on the radar.
XAUUSD 4 HOUR CHART
EURUSD Daily
Pattern wise – no escape now from reaching 1.14600
That level is a breaking point :
– If it holds, what we have seen previous weeks was just a correction
– If it gives a way, 1.13100 will be tested and we might be on our way towards 1.0500
And this is all Technical – Problem is that we are in the middle of Huge Crisis that can ruin even the best laid plans.
So go on smaller time frames – day in and day out and maintain your stops tight.
Headlines like this one are pressure on oil up (XBRUSD last $100.70) and weighing on risk
US500 (SP500) UPDATE
- Momentum is down (while below 6756 and the trendline) but scanning through charts, the low so far held a 1-hour support at 6692.
- Damage is not yet fatal with supports at 6603 => 6636 guarding the 6580 low.
- Rising oil prices/inflation impact seeing US bond yields firm and weighing on stocks so keep an eye on XBRUSD $100 as an indicator.
US500 1 HOUR CHART
