Bitcoin Sees Relief Amid Oil Price Pullback
Bitcoin rose above $77,000 over the weekend after oil prices pulled back from a record high.
The price of Brent crude oil declined to $104.61 per barrel on Saturday, down from its peak of $109.97 on Friday.
This move eased pressure on risk assets and allowed Bitcoin to stabilize above $77,000.
Despite the relief, industry leaders warned that risks remain, with Chevron CEO Mike Wirth stating that global crude inventories have largely been depleted.