Oil Slide Triggers Bitcoin Breakout Above 50-Week Mark
Bitcoin closed the week above its 50-week moving average for the first time in 45 weeks, sparking a short-squeeze that pushed BTC toward $85,000 as about $648 million in shorts were liquidated; a four‑day drop in oil cooled inflation fears and pushed yields below 5%, aiding crypto proxies and lifting other coins like XRP, Moderna, and MARA. However, ETF inflows were modest and big institutional buyers were largely absent, making the rally contingent on oil staying soft and Bitcoin staying above roughly $81,000 with a potential move toward $86,000 if conditions hold.