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      Bitcoin Retraces Gains as Brent Crude Surpasses $100

      Bitcoin experienced a reversal of its overnight gains as trading opened in New York on Wednesday. After reaching a high of $79,701.36 during the Asian and European sessions, Bitcoin fell back to around $78,591.04 by midday, reflecting a 0.1% decline over the past 24 hours. The cryptocurrency remains 37.7% below its record high of $126,080 set in October 2025. Meanwhile, Ether also saw a slight decrease, trading at $2,497.54, down 0.2% for the day.

      The total cryptocurrency market capitalization stood at $2.79 trillion, with Bitcoin's dominance at 56.5%. In the broader market, Zcash surged by 7.2% following a $100 million investment from Digital Currency Group into Grayscale's listed fund. This investment has reportedly increased the fund's assets under management to over $500 million just two weeks after its listing on NYSE Arca.

      In the commodities market, Brent crude oil prices climbed above $100 per barrel for the first time since July, trading at $100.74, a 2.88% increase from the previous day. This rise in oil prices comes as investors await key inflation data from the U.S., with producer prices set to be released on Thursday and consumer prices on Friday. These figures are critical ahead of the upcoming Federal Open Market Committee meeting, where a rate increase is anticipated.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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