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Bitcoin fell to $63,921, while Dogecoin rose above $0.07 and BNB to $603, sparking a brief rally in altcoins amid oil‑driven risk aversion.
Bitcoin slipped to $63,921.54, down 1.59% in 24 hours, as oil prices surged and the yen weakened, pulling risk‑off sentiment across crypto and equity markets【2】. The dip opened space for Dogecoin, which nudged above $0.07, and Binance Coin, which rose 0.3% to $603, helping most major tokens post weekly gains despite Bitcoin’s retreat.
| At a glance | |
|---|---|
| Bitcoin price | $63,921.54 (‑1.59% 24 h) |
| Dogecoin price | > $0.07 (up) |
| BNB price | $603 (up 0.3%) |
| Oil price | $84.40 /bbl (up 1%) |
The slide in Bitcoin came as Brent crude climbed to $84.40 a barrel, driven by renewed Middle‑East tension and fading hopes for a quick reopening of the Strait of Hormuz【1†L30-L33】. Higher oil prices lifted broader risk‑off sentiment, prompting the Japanese yen to stay weak against the dollar despite a recent joint intervention by Japan and the United States【2†L9-L11】. In parallel, U.S. Treasury yields edged higher, with the 10‑year yield up a basis point to 4.66%, and the dollar firming against most major currencies【1†L31-L33】. These macro moves coincided with a weak U.S. jobs report that had earlier eased concerns about further Federal Reserve rate hikes ahead of the upcoming consumer‑price index release【1†L13-L15】.
Dogecoin’s rise above $0.07 and BNB’s gain to $603 helped all major cryptocurrencies except XRP post weekly advances, with Bitcoin, Ether, BNB and Solana each up roughly 3% over the week【1†L13-L16】. Ether traded near $1,919, while Solana rose to nearly $77, marking the strongest daily gain among the majors【1†L16-L18】. The broader crypto rally reflected a shift in investor focus from Bitcoin’s technical setbacks to the relative strength of altcoins, especially those with strong on‑chain activity or recent network upgrades.
The primary catalyst for the price action was the oil surge, which re‑priced risk appetite across equities, gold and digital assets【2†L5-L7】. Analysts noted that Bitcoin’s inability to hold above the $65,000 zone, combined with modest demand, left the market vulnerable to macro pressure from oil and currency moves【2†L13-L16】. Meanwhile, spot Bitcoin ETFs continued to attract inflows, though a provisional $91 million outflow on August 10 briefly broke a five‑session inflow streak【2†L15-L17】.
The Bitcoin dip underscores how quickly macro‑driven risk shifts can outweigh technical factors, while the altcoin rally shows that even modest price moves in leading tokens can buoy the broader crypto market. The coming CPI data will be the next decisive test for whether Bitcoin can reclaim the $65,000 zone or remain confined to its current range.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Aug 12, 2026 · How we report
Inflation is a broad-based and persistent increase in the general price level, whereas a rise in the price of a specific good is a relative price change often driven by sector-specific supply and demand imbalances.
The Federal Reserve monitors inflation to maintain economic stability, as it must balance the need to control price increases with its mandate to support maximum employment.
The quantity theory of money is expressed by the equation MV=PQ, suggesting that when the money supply (M) grows faster than the volume of output (Q), the price level (P) must rise.
While factors like supply disruptions, fiscal stimuli, or wage-price spirals can create transient price pressures, sources indicate that persistent, long-term inflation is fundamentally driven by monetary policy.