Bitcoin Reclaims $71,000 as Oil Supply Fears Cool

Other major tokens posted gains alongside Bitcoin. XRP, $DOGE, $SUI, and $HYPE were among the top performers.

Bitcoin Reclaims $71,000 as Oil Supply Fears Cool

Bitcoin News

climbed above $71,500 during Tuesday morning U.S. trading hours before pulling back to around $71,300, a gain of 3.2% over the past 24 hours. The advance came as concerns over a potential global oil supply disruption faded.

The shift in sentiment followed a statement from the International Energy Agency announcing it would hold an extraordinary meeting of member countries to discuss releasing emergency oil reserves. WTI crude XRPoil fell to $82 a barrel on Tuesday after spiking to near $120 over the weekend. The S&P 500 and the Nasdaq 100 each gained roughly 0.5% by midday.

Other major tokens posted gains alongside

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were among the top performers. Stablecoin issuer Circle (CRCL) extended a recent rally, climbing 6% on Tuesday and nearly doubling in value over two weeks. Digital asset infrastructure firm BitGo (BTGO) rose more than 8%, and blockchain firm Figure (FIGR) gained 12%. Stack BTC (STAK), a U.K. Bitcoin treasury company, surged more than 200% after announcing Monday that politician Nigel Farage had joined the firm.