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Bitcoin falls below $77K amid rising oil prices
Bitcoin fell below $77,000 on Tuesday after another failed breakout attempt, as rising oil prices and caution ahead of key central bank meetings reduced risk appetite.
The world’s largest cryptocurrency was trading down 1.1% at $76,919.8 as of 06:36 GMT.
Bitcoin briefly rose above the $79,000 level on Monday but failed to hold those gains as traders took profits after repeated rejections near resistance levels.
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Oil surge amid Hormuz tensions pressures Bitcoin
Oil prices continued to rise on Tuesday, with Brent crude trading around $110 per barrel as disruptions in the Strait of Hormuz continued to impact energy markets.
Supply concerns are keeping oil prices elevated, fueling inflation fears and reducing appetite for risk assets such as cryptocurrencies.
U.S. President Donald Trump discussed Iran’s proposal regarding the reopening of the strategic waterway. However, according to The Wall Street Journal, Trump remains skeptical about Tehran’s intentions, especially amid unresolved disputes.
Sentiment was further dampened by a WSJ report stating that OpenAI failed to meet internal targets for revenue and user growth ahead of a potential IPO. The report raised concerns about the sustainability of the rapid investment cycle in artificial intelligence.
This has broader implications for cryptocurrencies, as enthusiasm around AI-driven innovation has been a key pillar supporting speculative demand for digital assets.
Central bank meetings ahead; traders watch Bitcoin 2026 conference
Attention is also firmly focused on a wave of central bank meetings scheduled for this week.
The Bank of Japan left interest rates unchanged on Tuesday, offering no major surprises but highlighting ongoing concerns about inflation, particularly due to higher energy costs.
Markets are now closely watching upcoming monetary policy decisions from the U.S. Federal Reserve, the European Central Bank, and the Bank of England for signals on the future direction of interest rates and liquidity.
Despite short-term pressure, Bitcoin continues to find underlying support from institutional interest.
Meanwhile, the Bitcoin 2026 conference kicked off in Las Vegas on Monday—an event that historically draws strong industry participation and can trigger short-term price volatility.
Crypto prices today: most altcoins decline
Most altcoins also fell on Tuesday amid range-bound trading.
The world’s second-largest cryptocurrency, Ethereum, dropped 1.6% to $2,285.44.
The third-largest cryptocurrency, XRP, fell 1.8% to $1.39.
Solana declined 1.6%, Cardano slipped 0.3%, while Polygon rose 1%.
Among meme tokens, Dogecoin gained 2%.
See also: "Bitcoin Gives Back Gains After Rally Above $79K; Vegas Summit 2026"
