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Bitcoin's next big move hinges on oil, and right now it's a total coin flip

Apr 09, 2026 05:22 UTC

Bitcoin's next big move hinges on oil, and right now it's a total coin flip.

  • Bitcoin'sBTC$71,035
  • 52next big move may have less to do with crypto fundamentals and more to do with the direction of oil prices
  • The leading cryptocurrency by market value has rebounded to $70,900 from early-week lows near $67,000,according to CoinDesk market data, tracking a broader risk-on move after the U

Bitcoin'sBTC$71,035.52next big move may have less to do with crypto fundamentals and more to do with the direction of oil prices. The leading cryptocurrency by market value has rebounded to $70,900 from early-week lows near $67,000,according to CoinDesk market data, tracking a broader risk-on move after the U.S. and Iran agreed to a two-week ceasefire late Tuesday that sent oil prices tumbling roughly 15% to below $100 a barrel. Bitcoin has been here before – prices have climbed above the $70,000 mark several times in recent weeks, only for the rallies to fizzle out quickly, underscoring the l

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