Bitcoin Slides Below $81K as Oil Rises, Fed Signals Rate Hikes

Bitcoin Price Retreats

Bitcoin traded at $81,203 as of Thursday morning, after briefly falling to $80,922. The dip reverses some of the gains seen in September, which had positioned the cryptocurrency near the $90,000 level. Over the past week, BTC has shed 4% of its value.

Oil and Macroeconomic Factors

The decline coincides with a surge in Brent crude oil prices, fueled by renewed attacks on tankers in the Strait of Hormuz and geopolitical tensions involving Iran. Higher oil prices increase the likelihood of interest rate increases by the U.S. Federal Reserve, a dynamic that historically pressures risk assets like Bitcoin.

Fed Governor Waller's Remarks

Federal Reserve Governor Christopher Waller indicated that further interest rate hikes may be necessary to combat inflation, though he acknowledged some flexibility in the timing of those increases. This follows a period where Bitcoin demonstrated resilience to rate hikes, briefly bucking the trend in September.

Longer-Term Outlook

Despite the short-term dip, some analysts maintain a bullish outlook for Bitcoin. While still over 30% below its all-time high of $126,080, the cryptocurrency spent much of 2026 recovering from a bear market following peaks in October 2025.

Source: Bitcoin Magazine