Bitcoin and ethereum prices today, Thursday, October 8, 2026: Crypto values fall as oil prices soar

Bitcoin (BTC-USD) opened at $83,275.52 on Thursday, October 8, 2026, down 2.7% from Wednesday's open. As of 7:11 a.m. ET this morning, bitcoin moved down to $82,347.48.

Ethereum (ETH-USD) opened at $2,573.30 on Thursday, October 8, 2026, down 4.6% from Wednesday's opening price. The price of ethereum moved down further this morning to $2,532.42 as of 7:11 a.m. ET.

Bitcoin and ethereum prices opened this morning at their lowest levels in a couple of weeks as persistent inflation concerns, thanks to continued conflict in the Middle East, have sent oil prices skyrocketing.

Brent crude (BZ=F) futures currently sit at $105.21 a barrel, and it's weighing on crypto prices:

Despite increased shipments through the Strait of Hormuz in recent weeks, UK officials have reported at least nine attacks in the critical waterway so far in October amid a continued US-Iran conflict.

Meanwhile, a tropical storm is nearing the Gulf coast, threatening to make landfall as a hurricane by Friday. Chevron said it is evacuating nonessential personnel from its offshore platforms in the region.

Learn more: Bitcoin Dips Below $83K as Oil Shock Rattles Markets: What Happens Next?

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