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Forex

Bitcoin Dips Below $64K as Oil Prices Surge Amid Inflation Worries

Guavy AI Editorial Team
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Bitcoin's price dipped below $64K as investors reduced risk ahead of U.S. inflation data, which will be released on August 12.

The price drop was also influenced by rising oil prices, with Brent crude oil increasing nearly 5% due to stalled U.S.-Iran talks.

As a result, traders shifted their focus towards safer assets like the U.S. dollar.

BTC, ETH, and XRP all declined in value, while some altcoins like Hyperliquid and Chainlink saw gains.

The market is closely watching the upcoming inflation data, which will impact Treasury yields and crypto prices.

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