What next as bitcoin slips below $69,500, tanker attacks send oil back above $100
By Shaurya Malwa
Published on March 12, 2026.
Bitcoin fell to $69,393 on Thursday morning, down 0.8% over the past 24 hours and 4.3% on the week, following oil tanker attacks in Iraqi waters that sent Brent crude back above $100 a barrel. The news negatively impacted the IEA's proposed record reserve release and led to a retreat in Asian markets. This is the third time in two weeks that bitcoin has pushed above $71,000 only to be knocked back by an escalation in the Middle East conflict. The broader crypto market also followed bitcoin lower, with Ether falling to $2,025, and Solana dropping 1.5% to $85.
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