Bitcoin dips below $78,000 as oil hits three‑month high
Bitcoin dips below $78,000 amid Middle East tensions
Bitcoin fell below $78,000 at the start of Tuesday’s Wall Street session. The drop came as US equities opened lower after news of Houthi strikes on Saudi cities and oil infrastructure.
Key numbers
- Bitcoin low: $77,600 (TradingView data)
- Support level to watch: $78,300
- WTI crude price: near $95 per barrel (three‑month high)
- Brent crude price: approaching $100 per barrel
- S&P 500 down 0.5% and Nasdaq down 0.4% at opening
Equities and oil react to Middle East conflict
U.S. stocks slipped as investors reacted to the renewed conflict. The S&P 500 and the tech‑heavy Nasdaq were down 0.5% and 0.4% respectively. Oil prices rose sharply, with WTI crude reaching its highest level since June 8 and Brent crude moving toward $100 per barrel.
Analyst warning on $78,300 support
Trader Rekt Capital noted that Bitcoin is retesting the $78,300 zone, a level that previously held after a failed breakout in May. He warned that a weekly close below $78,300 could signal a further decline, echoing the pattern seen in early May when Bitcoin fell from $82,800 to a low near $57,000.
Why the support level matters
If Bitcoin cannot stay above $78,300, technical analysis suggests it could trigger a lower‑high pattern that would keep the 2026 bear market in place. Holding the level would avoid a repeat of the May breakdown.
