BREAKING: Crypto Stocks Slammed as Oil Closes Above $101 — Bitcoin Slips Toward $81,300 as Nasdaq Falls 1.5%
A late Friday sell-off hit crypto and tech together after oil surged to a one-month high. US crude closed at about $101.41 a barrel, up about 3.5% for the day and rising for a seventh straight session, while Brent climbed to about $109.86. Bitcoin, which had spent much of Friday near $82,000, pulled back toward $81,300, and the Nasdaq fell about 1.5%.
Crypto-linked stocks fell much harder than Bitcoin itself. Strategy dropped about 9.2% to near $137, tokenization firm Securitize sank about 13.4%, Coinbase fell about 3.5% to near $177, Circle lost about 4%, and Bullish fell about 5.9%. Former miners turned data-center firms were also hit, with CoreWeave down about 8% and several mining names down around 6%.
The move came as traders reacted to higher energy prices and rising bond yields. Reports said Saudi Arabia's East-West oil pipeline had been targeted in an attack, and the US 10-year Treasury yield rose to about 5.125% after dipping near 5.07% earlier. Expensive oil worries traders because it can keep inflation high after this week's hot US CPI and PPI reports.
For Bitcoin traders, the $80,000 level is now the key line again. BTC tested below that level earlier this week and bounced quickly, so holding above it over the weekend would show buyers are still defending it. A close back above $82,000 to $83,000 would calm the market, while a break below $80,000 could bring faster selling in thin weekend trading.
Next, traders will watch whether oil keeps rising, whether yields stay high, and whether US spot Bitcoin ETF flows turn positive for a second day. Until those signals improve, many traders are likely to stay careful with leverage, because crypto is moving closely with tech stocks and the wider AI sell-off.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinDesk, Wall Street Journal
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