Bitcoin Drops Below $81,000 on Hawkish Fed and Surging Oil Prices

Bitcoin Drops Below $81,000 — Bitcoin’s price fell below $81,000 on Thursday, pressured by a spike in oil prices and hawkish commentary from the Federal Reserve.

The leading cryptocurrency traded as low as $80,922 in New York morning trading, marking a nearly 3% decline over 24 hours and extending its weekly loss to 4%. The drop follows a strong September rally that had pushed Bitcoin toward $90,000.

The price of Brent crude oil surged this week following renewed attacks on tankers in the Strait of Hormuz and geopolitical tensions involving Iran. Analysts note that rising oil prices increase inflationary pressures, raising the likelihood of further interest rate hikes from the Fed, which historically dampens demand for risk assets like Bitcoin.

Adding to the bearish sentiment, Federal Reserve Governor Christopher Waller stated on Thursday that further rate increases would likely be necessary to combat inflation, though he noted flexibility on the pace. Despite the current dip, some analysts maintain that Bitcoin has re-entered a bull market after spending much of 2026 in a bear phase following its October 2025 all-time high near $126,000.