BTC Holds $76.6K as Oil Surge Tests Decoupling
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Bitcoin is trading near $76,600 after reversing from an earlier push toward $78,000, while crude oil remains elevated near $103 and the S&P 500 declined at the US market open. During the pre-US session, BTC rose alongside oil, suggesting crypto-specific positioning temporarily decoupled from the war narrative. However, once US markets opened, the correlation reasserted itself, capping BTC's upside. The resilience before the open indicates institutional demand remains intact, but the macro headwind from rising energy costs and equity weakness poses a near-term risk. If BTC can maintain support above $76,000, the path toward $80,000 remains viable, but a break below could trigger a retest of $74,000.
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