Worries about an energy shortage have sent oil prices surging. This has put pressure on Bitcoin, whi

Bitcoin Slides for 4th Day to $66K as Oil Spikes—Trump Says 'Don't Worry, It'll Come Down'

The Middle East is on fire, and markets are feeling it. After a brief post-strike pop, Bitcoin has now dropped for four straight days, sitting at $66,272. Sunday alone saw BTC fall nearly 2% in 15 minutes—right as oil went parabolic.

Crude jumped almost 20% after Iraq warned that 3 million barrels a day could be cut off due to Iranian threats in the Strait of Hormuz. Hyperliquid data shows oil spiking from $95 to $113.7 on Sunday as U.S. futures opened. TradingView calls it the highest level since weeks after Russia's Ukraine invasion in 2022.

Bitcoin, meanwhile, slid from $66,960 to $65,725 before the U.S. stock open, then recovered slightly to $66,272. Oil has since cooled to $105.

Last week was wild: after the U.S.-Israel strikes, oil surged 30%+, and Bitcoin actually rallied—spiking from under $64K to $73,770 on news of Iran's Supreme Leader's death. But that momentum faded fast. Four red days in a row now.

Trump, though, isn't sweating it. "We think oil prices will go up, and they did," he told reporters Saturday. "But they'll also come back down. And very quickly." He also brushed off any need to tap the Strategic Petroleum Reserve: "We have plenty of oil. The market is well-supplied. This will be restored fast."