Bitcoin Dips Below $78K as Middle East Tensions Fuel Oil Price Surge

Bitcoin's price dipped below $78,000 at the Wall Street open on Tuesday due to risk asset sell-offs triggered by renewed Middle East tensions.

The US crude oil price surged to a three-month high near $95 per barrel in response to Houthi strikes on Saudi Arabian cities and oil infrastructure.

According to analysis, Bitcoin must hold its current support zone of $78,300 to avoid another potential breakdown.

Trader Rekt Capital noted that the retest of this zone is underway, warning that a weekly close below $78,300 would confirm a breakdown and potentially seal another lower high for Bitcoin's price action since October 2025.