Key facts
- Bitcoin price is approaching $81,000.
- Oil prices have surpassed $110 per barrel.
- Rising oil prices are increasing the likelihood of interest rate hikes.
Bitcoin is experiencing a downturn, with its price approaching $81,000. This decline is occurring as oil prices have risen above $110 per barrel, which is reviving concerns about potential interest rate hikes by central banks. Historically, October has been a favorable month for Bitcoin's price performance, a trend that is currently being challenged.
