Markets ·
Oil jumps above $111 and crypto slides with other risk assets
Attacks in the Middle East pushed Brent crude to its highest level since May. Bitcoin slipped toward $81,400 and ether toward $2,380.
What happened
On Tuesday, October 20, ongoing attacks in the Middle East, including in Saudi Arabia and on shipping in the Strait of Hormuz, pushed Brent crude above $111 a barrel, the highest level since May.
Risk assets felt it. Bitcoin opened at $81,844 and was trading near $81,405 by 7:31 a.m. ET; ether opened at $2,405 and fell to about $2,384. Compared with a year earlier, bitcoin's opening price was about 24.7% lower and ether's about 39.6% lower. Bitcoin's all-time high, set on October 6, 2025, is still far above current prices.
Analysts quoted in the report expect the Federal Reserve to hold rates at its meeting later this month, with further increases still possible later in the year.
My take Opinion, not advice.
When oil moves like this, crypto stops trading on its own news. Energy prices feed inflation, inflation feeds rate expectations, and rate expectations feed every risk asset at once.
In weeks like this I shrink. Smaller size, fewer trades, wider attention to the calendar. A headline at 3 a.m. can matter more than any chart pattern.
What I'm watching
- Brent crude and shipping headlines
- The Fed meeting on October 27–28
- Whether bitcoin keeps tracking equities during oil spikes
Source: Yahoo Finance, “Bitcoin and ethereum prices today, Tuesday, October 20, 2026”, published October 20, 2026.