Bitcoin tumbles below $66,000 as oil prices explode nearly 20% higher

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin tumbles below $66,000 as oil prices explode nearly 20% higher There was little sign over the weekend of any de-escalation in the war against Iran. By Stephen Alpher Mar 8, 2026, 10:43 p.m. Make us preferred on Google Oil prices surge higher, hitting crypto and stocks (Shutterstock) In what's become a familiar scenario in crypto over the past few months, prices are starting the week on the wrong foot. After little sign over the weekend of any de-escalation in the U.S. war against Iran, the price of oil has exploded higher in Sunday evening U.S. trade. April WTI crude oil futures are currently up 19.1% to $108.35 per barrel. That's roughly double the price at the start of 2026 and the highest level in about four years. That surge, in turn, has sent U.S. stock index futures down by nearly 2% across the board. Futures for Japan's Nikkei 225 are lower by 3.1% shortly before that stock market opens for Monday trade. Bitcoin BTC $ 67,316.44 is lower by 2% and trading just below $66,000. Ether (ETH) and solana (SOL) are down closer to 1.4%. Bitcoin News Breaking News top news Crude Oil Iran More For You Pudgy Penguins: Challenging the Pokemon and Disney Legacy in the Global IP Race By CoinDesk Research Feb 27, 2026 Commissioned by Pudgy Penguins CoinDesk Research looks into how Pudgy Penguins disrupts traditional toys market via a phygital model. With 2M+ units sold, they scale via global partnerships and events. What to know : Disrupting a Stagnant Market : Pudgy Penguins is utilizing a "Negative CAC" model to challenge the traditional $31.7B licensed toy industry by treating physical merchandise as a profitable user acquisition tool rather than just a final product. View Full Report More For You Bitcoin is still a great way to diversify portfolio even if it trades like a tech stock, analyst says By Francisco Rodrigues , AI Boost | Edited by Aoyon Ashraf 6 hours ago The central debate has shifted from whether bitcoin can survive to if it can function as a sovereign reserve asset, as critics assess it by institutional standards. What to know : Even though Bitcoin's correlation with major stock indexes is elevated (near 0.5), equities only explain about 25% of its price movements. The central debate has shifted from whether bitcoin can survive to whether it can function as a sovereign reserve asset, as critics assess it by institutional standards. Bitcoin's growth does not depend on central bank adoption. Its value is derived from its globally distributed, politically neutral network and its adoption by individual users. Read full story Latest Crypto News Crypto’s Rock ’n’ Roll Era Is Over 3 hours ago Bitcoin is still a great way to diversify portfolio even if it trades like a tech stock, analyst says 6 hours ago Market structure state of play: State of Crypto 8 hours ago Oil leaving Middle East trades over $100 a barrel. Here’s how it could affect bitcoin 9 hours ago Tokenized assets exceed $25 billion after nearly quadrupling in a year 11 hours ago Canton’s Yuval Rooz says smart contract blockchains face a reckoning over value gap 11 hours ago Top Stories Bitcoin dip may not be over as whales sell into retail buying — a bearish signal 17 hours ago Why bitcoin couldn't hold $70,000 despite its best week of Wall Street news in months Mar 6, 2026 Trump's cyber strategy vows to 'support the security' of cryptocurrencies and blockchain Mar 7, 2026 Those who cheered U.S. Bitcoin reserve have spent year watching Trump's order languish Mar 7, 2026 Kalshi, Polymarket seeking $20 billion valuations in fundraising talks: WSJ Mar 7, 2026 Circle moves $68 million in just 30 minutes by using its own stablecoin for internal payments Mar 7, 2026 In this article BTC BTC $ 67,316.44 ◢ 0.71 %