Bitcoin slips under $64,000 as oil jumps and AI-driven chip selloff lingers
Bitcoin slipped to about $63,900 on Monday, down 1.3% on the day, as markets weighed two competing forces: a war-driven oil bounce and a lingering AI shock that hit chip stocks after Friday’s selloff.
Bitcoin’s weakness keeps it stuck between macro risk and tech-sector pressure. The broader crypto tape turned red: Ether eased 1.1% to around $1,850, BNB fell 0.8% to about $564, and XRP slid to roughly $1.09. Dogecoin also dropped 1.4%.
Among large caps, Hyperliquid’s token (HYPE) was the weakest, down about 8% on the week to around $60.
In macro markets, Brent crude rose to a one-month high above $91 a barrel after widening U.S.-Iran strikes, reviving inflation concerns despite softer U.S. price data earlier this month. Meanwhile, Asian chip stocks stayed under pressure; South Korea’s Kospi fell 3.5%, even as U.S. futures pointed higher.
For crypto traders, the key takeaway is that Bitcoin trade is being influenced by global risk sentiment: oil/inflation fears support volatility, while AI-related equity weakness continues to drag on tech-linked sentiment.
Bearish
Bearish in the near term: Bitcoin is trading below $64,000 while macro and tech signals both lean toward risk-off. Oil’s jump (Brent > $91) revives inflation concerns, which historically can pressure risk assets. At the same time, the lingering AI-driven chip selloff spilled into broader equity sentiment (e.g., Kospi -3.5%), and crypto—especially growth/tech-adjacent tokens—often de-risks when equities wobble.
In past similar regimes, when inflation fears re-emerge alongside equity drawdowns, BTC typically struggles to reclaim resistance quickly and may trade in a choppy range. Over the short run, expect volatility around macro headlines and continued correlation with global risk sentiment. In the long run, the impact depends on whether the equity/AI pressure fades and whether oil-driven inflation fears are sustained; if both ease, Bitcoin could rebound toward the $64,000 area and beyond. Until then, upside may remain capped by persistent tech-sector weakness and renewed macro uncertainty.