Bitcoin Falls Below $81,000 as Oil Spikes, Fed Talks Tough

What happened

Bitcoin Falls Below $81,000 as Oil Spikes, Fed Talks Tough, according to Bitcoin Magazine. Bitcoin Magazine Bitcoin Falls Below $81,000 as Oil Spikes, Fed Talks Tough The price of bitcoin has continued to drop this week, spurred by fears that the Federal Reserve is increasingly tempted to raise interest rates. Bitcoin Magazine Bitcoin Falls Below $81,000 as Oil Spikes, Fed Talks Tough Bitcoin’s price has dropped further, sliding with other assets as the oil price continued to climb and the Federal Reserve made a hawkish statement.

The price of the leading asset recently stood at $81,203 after dropping as low as nearly $80,922 at one point on Thursday morning in New York. Over the past day, bitcoin’s price has shed nearly 3% of its value; over a seven-day period, it’s down by 4%.

But so-called Uptober — the month of October typically gives bitcoin investors good returns — is starting slow on a surging oil price. This week, the price of Brent crude has jumped following renewed attacks on tankers in the Strait of Hormuz.