Bitcoin Hovers Around $86 Million Amid Oil Price Drop

The price of Bitcoin has stabilized at around $86 million on Tuesday, after reaching a high of $87.3 million on Monday.

This comes as oil prices have fallen, with Brent crude dropping to under $98 per barrel and WTI falling by over 2.5% to near $89 per barrel.

The decline in oil prices is contributing to the Bitcoin rally, which has been boosted by the Federal Reserve's decision to raise interest rates last week and ongoing inflation concerns.