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Bitcoin slides towards $81,000 as rising oil prices above $110 revive rate-hike bets
Bitcoin's price slid on Thursday, erasing earlier gains, after oil prices jumped. The largest cryptocurrency was down by nearly 4% over a 24-hour period on Thursday in New York, trading as low as $81,331 at one point. The surge in oil prices, driven by Middle East conflict and Houthi attacks on Saudi Arabia, is spurring inflation fears and increasing the chances of the U.S. central bank raising interest rates, which typically hurts risk-on assets like Bitcoin and tech stocks.
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