Bitcoin Holds Steady at $86,000 as Oil Prices Drop Below $90

Bitcoin's price consolidated around $86,000 on Tuesday as crude oil prices reached their lowest levels in nearly three weeks. The drop in oil prices was caused by reports that Saudi Arabia had reopened the East-West Pipeline, a key oil-supply route.

The reopening of the pipeline is expected to take six to eight weeks for flows to reach full capacity, which may help stabilize crude oil prices.

Despite this, Bitcoin's price remained steady around $86,000, a level that has become new support for the cryptocurrency. This comes after Bitcoin hit fresh 33-week highs on Monday at $87,350, its highest level since January 29.