Bitcoin Drops Under $68,000 as Oil Tops $90 – Crypto News – Crypto News
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Bitcoin Drops Under $68,000 as Oil Tops $90 Bitcoin Drops Under $68,000 as Oil Tops $90

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Bitcoin Drops Under $68,000 as Oil Tops $90 – Crypto News

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Total crypto capitalization is down 3% to $2.4 trillion amid a global market retreat.

Crypto markets declined for a second day, with investors remaining cautious heading into the weekend amid the ongoing conflict in the Middle East. Global markets face pressure after oil spiked another 14% today, with prices now exceeding $90 per barrel for the first time since 2023.

Bitcoin (BTC) is trading at around $68,000, down 4% over the past 24 hours. Meanwhile, ETH and SOL fell 4.5% to about $1,970 and $84, respectively, and BNB is down 3% on the day.

BTC Chart

The overall crypto market capitalization declined by another 3% to $2.4 trillion, according to Coingecko.

U.S. stocks fell after the Bureau of Labor Statistics reported that nonfarm payrolls fell by 92,000 in February, well below estimates. Meanwhile, the unemployment rate climbed to 4.4% from 4.3%.

Crude oil (WTI) surged above $90 per barrel after President Trump said the war would not end without an unconditional surrender by Iran. The S&P 500 and the Nasdaq slipped by around 1%, while gold and silver posted modest gains.

Almost all of the Top 100 digital assets posted losses over the last 24 hours. Today’s top gainer is Pi Network (PI), which ralled 5.5%.

Ethena (ENA) and Zcash (ZEC) are the biggest losers, plunging 8%.

Around 96,000 leveraged traders were liquidated for $324 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $158 million, while ETH positions made up $67 million.

Bitcoin exchange-traded funds (ETFs) recorded outflows of $228 million on Tuesday, ending their multi-day winning streak.

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