Bitcoin Slips to $65,900 as WTI Tops $85 and Revives Inflation Fears
Updated
Updated · CoinDesk · Jul 22
Bitcoin Slips to $65,900 as WTI Tops $85 and Revives Inflation Fears
3 articles · Updated · CoinDesk · Jul 22
Summary
Bitcoin fell 0.9% to $65,900 after touching a one-month high Tuesday, with the broader crypto market edging lower as traders took profits.
WTI crude rose above $85 a barrel for the first time since June 12 as the Iran conflict escalated, lifting inflation worries and pushing investors toward havens including gold, silver and bitcoin over altcoins.
Bitcoin’s dominance climbed to 59% as capital rotated out of altcoins and stablecoins, while ether slipped 0.5% to $1,920 and most major tokens showed seller-led flows.
Trading volume dropped 12% to $150 billion, open interest held near $116 billion and liquidations stayed light at $165 million, pointing to a market pause rather than a forced unwind.
Options and volatility data showed mixed sentiment: BTC implied volatility rose to 40%, yet Deribit activity stayed concentrated in $70,000 and $72,000 bitcoin calls, suggesting some traders still expect upside.