Bitcoin prices continued to fall this week, dropping to $80,922 on Thursday morning New York time, a nearly 3% decline over the past day. This was primarily driven by rising oil prices and hawkish comments from the Federal Reserve. Federal Reserve Governor Christopher Waller stated on Thursday that further interest rate hikes might be necessary to curb inflation, despite "flexibility" in the pace of increases. Brent crude oil prices jumped this week following another tanker attack in the Strait of Hormuz, while Donald Trump hinted that negotiations with Iran were not progressing well. The surge in oil prices increased the likelihood of Fed rate hikes, putting pressure on "risk assets," including Bitcoin.