Bitcoin rises as oil surge eases 🛢️

Oil spiked to its highest price since the pandemic, but with the gains now fading, Bitcoin is reclaiming lost ground.

Author

Andrew Hayward
March 09, 2026

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đź“ť What you need to know

The price of crude oil skyrocketed overnight, hitting a peak above $115 per Brent crude barrel—the highest mark since 2022, during the COVID-19 pandemic—amid concerns that the Iran conflict won’t end anytime soon. Israeli airstrikes on Iran’s oil depots helped fuel that fear, as did Iran’s appointment of the late Ali Khamenei’s son Mojtaba Khamenei as new supreme leader—in defiance of President Trump’s demands.

Bitcoin dipped below $66,000 late Sunday as oil started to surge, and U.S. stock indices started Monday in the red. But the oil spike is starting to cool, with prices recently under $100, as stock indices draw closer to even on the day. Bitcoin has since rebounded, trading near $69,000 amid the broader markets volatility.

Bitcoin Price Slips as Oil Surges and US Stock Futures Tumble

Whether Bitcoin’s resilience holds may depend less on battlefield developments than on how energy prices respond in the days ahead.

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