
Bitcoin rebounds to $73,400 as oil drops below $100
Bitcoin rebounded to $73,400 during Monday’s US session, erasing weekend losses as oil prices retreated below $100 and risk appetite returned to global markets.
The recovery followed a sharp sell-off triggered by failed negotiations between the United States and Iran and a blockade of the Strait of Hormuz, which had pushed oil above $105.
Bitcoin rose more than 3% over 24 hours, while ether, solana and XRP also posted gains, though underperforming bitcoin’s rebound.
Crypto-related equities rallied alongside the broader market, with Circle, Gemini, MARA Holdings and Bullish all posting notable gains as the Nasdaq climbed 1.2%.
In commodities, WTI crude reversed sharply to $98 per barrel after spiking on geopolitical tensions, reinforcing the correlation between easing macro risks and digital asset strength.
Strategy continued its aggressive accumulation of bitcoin, purchasing 13,927 BTC for $1 billion last week through issuance of high-yield preferred stock rather than common equity.
Trading volume in Strategy’s STRC preferred shares reached a record $770 million on Monday, indicating potential for further issuance and signalling continued large-scale bitcoin buying activity.
At the time of reporting, Bitcoin price was $74,505.80.