Bitcoin Dips Below $81,000 as Brent Oil Hits $116

Bitcoin briefly fell below $81,000 during Friday’s U.S. trading session as Brent crude surged to about $116 a barrel, while traders watched whether the cryptocurrency could regain a key moving average near $81,781. TradingView data cited in reports showed Bitcoin reaching $80,988 before recovering toward $81,600. Brent climbed to its highest level since mid-March, rising nearly 3% during the session. The market moves coincided with weaker U.S. stocks, while the 10-year Treasury yield remained below 5%. The reports did not establish that the increase in oil prices caused Bitcoin’s decline. Keith Alan, co-founder of crypto trading platform Material Indicators, said Bitcoin bulls were trying to reclaim the 50-day simple moving average near $81,781 by the daily close. He said a failure to recover that level could be followed by a test of support between $78,000 and $80,000. That was a possible scenario, not a confirmed subsequent move. Another support area cited in market analysis was $80,000 to $81,500, described as aligning with the aggregate cost basis of investors in spot Bitcoin exchange-traded funds. Such a level may attract attention from traders, but it does not guarantee...