Bitcoin trades above $77,000 as oil's 5% slide pushes Asian equities higher
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Bitcoin BTC $ 77,320.88 was slightly higher on Monday as a sharp decline in oil prices helped lift Asian stock markets.
Key facts
At 6:35 UTC, the leading cryptocurrency by market value traded near $77,200, up 0.4% from midnight UTC, data
Futures tied to West Texas Intermediate crude oil dropped more than 5% to around $91 per barrel, extending a steep slide from last Wednesday’s high above $104
XRP and Solana (SOL) rose 0.6% or more, while Ether (ETH) gained 0.4%
At that level, bitcoin was trading above its widely tracked 50-day simple moving average of around $76,940
Summary
Bitcoin trades near $77.2K, holding above its 50-day average, while ETH, XRP, and SOL lag below theirs. Oil’s 5% drop on potential Strait of Hormuz reopening boosted Asian equities and supported crypto sentiment. At 6:35 UTC, the leading cryptocurrency by market value traded near $77,200, up 0.4% from midnight UTC, data. XRP and Solana (SOL) rose 0.6% or more, while Ether (ETH) gained 0.4%.