Bitcoin tumbles below $66,000 as oil prices explode nearly 20% higher

There was little sign over the weekend of any de-escalation in the war against Iran.

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What to know:

• Oil has opened the week trading nearly 20% higher after no sign of any cooling in the war against Iran.
• The spike in oil prices has sent bitcoin and stocks sharply lower.

In what's become a familiar scenario in crypto over the past few months, prices are starting the week on the wrong foot.

After little sign over the weekend of any de-escalation in the U.S. war against Iran, the price of oil has exploded higher in Sunday evening U.S. trade. April WTI crude oil futures are currently up 19.1% to $108.35 per barrel. That's roughly double the price at the start of 2026 and the highest level in about four years.

That surge, in turn, has sent U.S. stock index futures down by nearly 2% across the board. Futures for Japan's Nikkei 225 are lower by 3.1% shortly before that stock market opens for Monday trade.

Bitcoin BTC$66,210.10 is lower by 2% and trading just below $66,000. Ether (ETH) and solana (SOL) are down closer to 1.4%.

A check of other commodity prices finds the precious metals and copper all trading modestly lower.

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BTCBTC$66,210.10◢1.55%