Bitcoin at Risk as Oil Hits 3-Month High

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Bitcoin fell with US stocks on the opening of Tuesday’s Wall Street trading session as analysis warns that BTC price support at $78,300 must hold.

Bitcoin (BTC) dipped below $78,000 at Tuesday’s Wall Street open as risk assets fell on renewed Middle East tensions.

Bitcoin briefly dropped under $78,000 for the first time since Sept. 3, following downside pressure on US equities.

WTI crude oil hit three-month highs near $95 per barrel on renewed military strikes in the Middle East.

Bitcoin needs to hold $78,300 to avoid a repeat of its May breakdown, analysis warns.

Bitcoin, stocks fall as Middle East woes spark oil surge

News of Houthi strikes on Saudi Arabian cities and oil infrastructure pressured US stocks at the start of the first trading session after the Labor Day holiday. The S&P 500 and tech-heavy Nasdaq Composite Index were down by 0.5% and 0.4%, respectively, at the time of writing.

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