Bitcoin Slips Below $77,000 Amid Rising Oil Prices and Global Tensions

The price of Bitcoin fell below $77,000 last week, dropping by 3.64% from September 4 to 11. This decline is attributed to international tensions and rising oil prices, which are fuelling inflation and reducing the likelihood of a key interest rate cut at the next US Federal Reserve meeting.

The price of Brent crude oil has surged to $105 for the first time since May, contributing to the downward pressure on Bitcoin. The cryptocurrency's market capitalisation continues to be affected by global events, including the ongoing conflict in the Middle East and its impact on shipping routes.