Bitcoin tests $81k level as Brent climbs, 50-day MA watched

Bitcoin fell below the $81,000 mark on Thursday, following a decline in major equity indices. The dip came as the cryptocurrency traded near a key psychological level that has drawn attention from technical analysts. The decline followed a broader sell‑off in the S&P 500 and Nasdaq, which weighed on risk‑seeking assets.

At the same time, Brent crude oil rose to its highest price since March, pushing the benchmark above $80 a barrel. The surge in oil prices has been linked to tightening supply and ongoing geopolitical tensions in the Middle East. The rally in Brent has also boosted the price of other energy commodities, adding to the overall volatility in the market.

The 50‑day moving average has become a focal point for traders watching Bitcoin’s direction. A breach of this level could signal a shift in medium‑term momentum, while a bounce might confirm the current trend. Technical analysts monitor the 50‑day moving average to gauge whether Bitcoin is consolidating or moving towards a new trend.

Movements in oil and equity markets often influence risk sentiment, which can spill over into the cryptocurrency space. Consequently, Bitcoin’s reaction to macro events and technical thresholds may affect investor positioning across both asset classes. Such cross‑asset reactions can lead to tighter spreads and heightened volatility in both the crypto and traditional markets.

Based on reporting from Cointelegraph. Read the original.