Bitcoin slid under $70,100 Thursday, shedding 5.11% in 24 hours as three separate shocks landed on markets within hours of each other. According to CoinMarketCap, BTC was changing hands at $70,049.33, down 0.85% in the prior hour with a total market cap sitting near $1.4 trillion dollars.

The rejection came exactly where traders had flagged it. Resistance at $76,000 held firm, and Bitcoin pulled back cleanly from that ceiling. The next level drawing attention is support around $66,000.

Oil Hits $99 After US Strike on Iran

The US struck Iran’s South Pars gas facility Thursday, the single largest gas field on earth. Oil jumped to $99 immediately. That kind of move in energy prices has a chain effect across every risk asset, crypto included.

ETH didn’t get away clean either. Ethereum is testing the $2,180-$2,200 zone right now, a breakout area that bulls need to defend. Lose that floor and $1,900 becomes the next stop, according to AshCrypto on X.

As AshCrypto noted on X, the message from all three events lines up to one conclusion: rising oil hurts everything.

PPI Printed Hot. Then Powell Spoke.

PPI came in at 3.4% year-on-year this morning. That’s above expectations. The inflation pipeline is refilling before geopolitical war impacts have even started showing up in the data.

Then Powell held rates. Not surprising on its own. But he acknowledged the Middle East situation during the press conference, which was the first time in Fed history the central bank addressed geopolitical conflict that directly in an FOMC setting. Markets did not respond well to his tone.

“Powell already flagged this concern in his press conference,” AshCrypto wrote on X, pointing to the Fed chair’s comments linking oil prices to broader asset pressure.

The next 7 to 10 days after FOMC have historically shown weakness in Bitcoin. That pattern is back in the conversation now.

$66K Support and What Comes Next

Three things landed simultaneously Thursday: a military strike that sent oil surging past $99, inflation data hotter than expected at 3.4% year-over-year, and a Fed chair whose tone spooked the room. Any one of those alone would have been enough to rattle crypto. All three at once is a different kind of pressure.

BTC sits at $70,049 per CoinMarketCap, still technically above the $66,000 support zone that traders are watching. Whether that level holds through the next week becomes the question. If oil keeps climbing off the Iran strike, the inflation story gets worse before it gets better, and the Fed has already signaled it sees the problem.

ETH’s $2,180 zone gets retested. Bitcoin watches $66K. The post-FOMC window, historically soft for BTC, is now open.