Oil surge knocks Bitcoin to $65k as Fed cuts expectations fade

Oil spikes to $119 on Hormuz shock. Bitcoin dips below $66k, then rebounds toward $67k.

Bitcoin fell under $66,000 amid the oil jolt. A quick bounce followed near $67,000. Sources: tweet confirming the dip and Bloomberg price page. See Bitcoin.

Brent jumped to $119.50 a barrel. It was the biggest intraday move since April 2020, per Bloomberg.

The trigger was the Strait of Hormuz. Daily flows dropped from 16 million to 4 million barrels. Shipping a 2 mbbl cargo to China now costs $200,000 per day. Both points via Bloomberg.

Key data points
- BTC intraday low below $66,000 source
- BTC bounce near $67,000 source
- Brent high at $119.50, largest jump since 2020 source
- Hormuz flows 16m → 4m bpd; shipping $200k/day source