Bitcoin also fell for four consecutive trading days, collapsing the $80,000 level again as surging o..

Bitcoin also fell for four consecutive trading days, collapsing the $80,000 level again as surging oil prices from the Middle East and concerns over a rise in U.S. interest rates put pressure on global risky assets at the same time.

According to CoinMarketCap, a virtual asset marketplace platform on the 11th, Bitcoin fell by more than 4% for four consecutive days from $88,850 on the 6th to $76,568 on the 10th. As of 3 p.m., it is trading around $77,226, partially recovering from the fall.

Bitcoin has fluctuated in the $60,000-$80,000 box since February this year after hitting an all-time high of about $126,000 in October last year.

Bitcoin recovered to the $80,000 mark by jumping to $81,271 on the 3rd, but it fell back to $79,672 on the 4th, closing above $80,000 again on the 6th, and then starting to decline again on the 7th. As such, it is analyzed that Bitcoin's attempts to settle above $80,000 have failed several times, creating a strong resistance line as sales have accumulated around $80,000.

Bitcoin's recent weakness is due to the growing concern over the U.S. Federal Reserve's interest rate hike as U.S. producer prices continue to rise higher than expected, and the outflow of funds from the U.S. Spot Bitcoin Exchange Traded Fund (ETF), which led to the recent price rebound.