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Bitcoin dips below $66K as oil hits $85, sparking inflation fears and a shift to safer assets.

Market News
22 Jul 2026
Coindesk
View Source
Bearish
pluang ai news

Bitcoin fell below $66,000 after reaching a one-month high, triggered by rising oil prices above $85 amid escalating Iran conflict, which reignited inflation concerns. This led investors to move capital from altcoins and stablecoins into bitcoin and traditional safe havens like gold and silver. Trading volumes dropped and bearish sentiment grew across most cryptocurrencies, though some tokens like Midnight surged following positive endorsements. Volatility expectations rose, but some traders remain bullish, buying call options anticipating a price rebound.

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