Driven by rising oil prices and the Bank of England's rate hike, the price of Bitcoin pulled back below $80,000, trading near $79,600. Early Thursday morning Eastern Time, Bitcoin fluctuated in a narrow range around $79,600, up about 2% from the previous day, but roughly $21,900 lower than its high from a year ago. A day earlier, boosted by a rebound in WTI and Brent crude oil futures, Bitcoin had briefly surged to approach $80,900. On the same day, the Bank of England's Monetary Policy Committee voted 8 to 1 to raise the benchmark interest rate by 25 basis points to 4%, marking its first rate hike in over three years.