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Zag net that Bitcoin is dropping back from that $80,700 level. Oil prices are rising sharply, dragging the entire crypto market down with them. Interesting how traditional markets and crypto are still so strongly linked.
In the past few hours, we've seen broader selling pressure in the market. Not just Bitcoin, but the rest of the altcoins are taking hits as well. The oil price increase seems to have affected risk sentiment, so investors are pulling back.
Just wait and see how this develops further. Sometimes these are just short-term shocks in the market. I will monitor how the prices react over the next few hours.