{
  "id": 12903570,
  "title": "Bitcoin nears 3-week low as oil heads higher on Iran strike woes",
  "url": "https://urgent.news/2026/10/08/bitcoin-nears-3-week-low-as-oil-heads-higher-on-iran-strike-woes",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T15:55:55.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/markets/bitcoin-nears-3-week-low-as-oil-heads-higher-on-iran-strike-woes"
  },
  "original_language": "en",
  "account": "Bitcoin slid below $81,000 and oil prices rose after reports of potential military action between the US and Iran resurfaced. Bitcoin faced the risk of losing crucial support at $82,500 following Thursday's Wall Street opening, while oil prices climbed due to fears of US-Iran military conflict. TradingView data revealed BTC/USD reaching $81,000 on Bitstamp, its lowest point since September 21. The four-hour chart for BTC/USD illustrated this decline. Cointelegraph and TradingView reported that NBC News cited a Pentagon official and an informed source, suggesting the US might prepare for renewed strikes on Iran. This development pushed oil prices upward: West Texas Intermediate (WTI) crude reached $93.20 per barrel, the highest since October 2, and Brent crude climbed to $105.88.\n\nPresident Donald Trump, addressing supporters at a rally in San Antonio, Texas, mentioned that Middle East envoy Steve Witkoff was making headway with Iran on a peace deal. However, he noted that he had little interest in a diplomatic outcome, stating that Iran was eager to offer anything to prevent war. The US 30-year bond yield hit a 24-year high of 5.73% on the day but later fell to 5.65% as markets remained uneasy about the potential war's impact on fuel prices and inflation. Federal Reserve Governor Christopher Waller's comments further pressured yields, as he emphasized the necessity of further interest-rate hikes to curb inflation. Waller stated that additional hikes were expected to ensure a timely return of inflation to the Fed's 2% target. However, he hinted at some flexibility in the timing of these hikes.\n\nCME Group's FedWatch Tool indicated growing market expectations of a 0.25% rate increase at the Federal Open Market Committee's December meeting, with the probability surpassing 70%. Conversely, the consensus for the October meeting leaned towards a rate pause at the current level of 3.75-4%. Bitcoin's price movements kept traders on edge, awaiting a decisive move around the $82,500 support level. According to Cointelegraph, this support holds significance in Bitcoin's broader recovery from multiyear lows near $57,000, owing to its resemblance to the end of the 2022 bear market. Trader and analyst Rekt Capital noted that Bitcoin is in a transitional phase and at a crucial technical juncture, with ~$82,500 being the decisive price point that will shape Bitcoin's next market structure. Bitcoin's dip below $82,000 also led to a surge in cross-crypto long liquidations, totaling approximately $430 million at the time of writing, as reported by CoinGlass data.",
  "summary": "Bitcoin dipped below $81,000 and oil prices gained after reports that military confrontation between the US and Iran could return.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Al-Monitor",
        "title": "Analysis-As Munir's military takes on Gulf role, Pakistan's parliament is not involved",
        "url": "https://urgent.news/2026/10/08/analysis-as-munirs-military-takes-on-gulf-role-pakistans-parliament",
        "published": "2026-10-08T10:46:33.000Z"
      },
      {
        "outlet": "Euronews",
        "title": "Gulf economies to shrink despite higher oil prices as Iran war takes toll, World Bank says",
        "url": "https://urgent.news/2026/10/08/gulf-economies-to-shrink-despite-higher-oil-prices-as-iran-war-takes",
        "published": "2026-10-08T11:31:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}