Bitcoin Falls 2.2% as Ukraine-Iran Oil Spike Pushes Prices Higher

Bitcoin slipped back from an early-week high as geopolitical tensions around energy supply resurfaced and traders braced for a pair of major US inflation releases. After trading as high as $84,254 on Bitstamp —its strongest level since Wednesday— BTC /USD gave back as much as 2.2% into the start of the New York session. The pressure was tied to renewed concerns over oil markets and the risk that disruptions linked to the Russia-Ukraine war could spill into energy infrastructure, just as traders are watching US CPI and PPI for fresh direction.