Brent crude rises above $106 as crypto market retreats
Crypto market slides as Brent hits $106
On September 10, 2026, Brent crude oil rose to $106.83 a barrel, its highest level since May 19. The oil price jump coincided with a broad sell‑off in the cryptocurrency market. Bitcoin fell to $77,120, down 2.1% in the last 24 hours, and Ether dropped to $2,448.88, down 1.9%.
Key numbers
- Brent crude up 5.6% on the day, 11.7% since early September.
- Bitcoin at $77,120 (‑2.1% 24 h, ‑5.1% weekly).
- Ether at $2,448.88 (‑1.9% 24 h, ‑2.7% weekly).
- Market‑wide crypto value $2.64 trillion, Bitcoin share 58.5%.
- Fed rate‑h odds rose to 64% for a September hike.
Market breadth
Out of the 125 largest non‑stablecoin tokens, 103 fell in the last 24 hours. Only 21 rose and one stayed unchanged. The decline was strongest among mid‑cap tokens, with the ten biggest losers each dropping more than 10%.
ETF outflows
U.S. spot Bitcoin ETFs saw $120.2 million leave on Wednesday and $46.6 million on Tuesday. Spot Ether ETFs recorded $2.1 million of inflows on Wednesday after a $24.3 million outflow on Tuesday.
Ether.fi buyback vote
The Ether.fi DAO approved a proposal to buy back its token ETHFI on a weekly basis. The vote received 1,141,999 votes in favor and none against. The program has not yet reported any purchases.
Unclear aspects
- The exact timing and execution of Ether.fi’s buyback program remain unknown.
- No details were provided on why the Brent price surged beyond $106.
Why it matters
Higher oil prices and rising Treasury yields can increase inflation concerns, which often lead investors to reduce exposure to riskier assets such as cryptocurrencies. The rise in Fed rate‑hike odds reinforces this pressure.
