Brent crude tops $116 as oil spike drags crypto into risk-off mood

Sticky inflation expectations and pricier oil left Bitcoin near $81K and squeezed rate-cut hopes across markets Brent crude climbed above $116 a barrel, its first trip to that level since April. Equities flinched, crypto followed, and traders were reminded that energy prices still have a vote in every asset class. Oil is supposed to be a commodities story. Lately it keeps showing up uninvited in the crypto group chat. The timing made things worse. Fresh University of Michigan data showed consumers still expect inflation of 5% over the next year, a reading that leaves little space for the rate cuts many investors have been hoping for. Bitcoin hovered near $81K, down 3.1% over 24 hours.

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