Brent Falls From $110 and Bitcoin Bounces, but Chevron Warns Oil Risk Is Rising

Bitcoin stabilized above $77,000 this weekend after a sharp reversal in oil prices gave risk assets some breathing room, but the relief may be temporary.

Brent crude surged as high as $109.97 per barrel on Friday before reversing to settle at $104.61, while West Texas Intermediate finished at $100.05. Despite the pullback, Brent still gained more than 8% for the week as Middle East supply disruptions kept energy markets under pressure.

Bitcoin responded positively to the retreat. BTC rose roughly 0.9% on Friday, closing near $77,200 after briefly falling toward $76,100, and was holding around $77,300 on Saturday.

That rebound followed a difficult stretch in which oil above $100 intensified inflation concerns across both crypto and traditional markets.

Falling Oil Removes One Immediate Pressure on Bitcoin

Oil has become an important macro variable for crypto because higher energy prices feed directly into inflation expectations and interest-rate forecasts.

August U.S. CPI rose 0.4% month over month and 3.4% year over year, while the earlier producer-price report came in at 5.4%. Together with crude above $100, that pushed market expectations for a Federal Reserve rate hike next week toward 85%–90%.