Bitcoin slips from near $80,000 as oil price increase weighs on risk assets

Bitcoin dips after testing $80,000 as oil surges and traders stay bearish, even though a breakout hints the rally could accelerate on short squeezes. What to know : Bitcoin fell 0.7% after failing to break $80,000, while ether dropped 2.5% and broader altcoins showed weak participation Derivatives showed a rare mix of high open interest and negative funding, raising the risk of a short squeeze-driven rally. Rising oil prices and falling stock futures pressured risk assets, while altcoin sentiment and capital flows continue to deteriorate.(Coindesk)