Bitcoin and crypto stocks rise as oil supply concerns ease

KuCoinFlash

Release Time: 03/10/2026 16:16:51

BTC

$70,083.501.64%

Summary

Bitcoin and altcoins rose on Tuesday as concerns over oil supply eased, boosting risk appetite. The IEA’s plan to release emergency reserves drove WTI crude down from $120 to $82. The S&P 500 and Nasdaq 100 each gained 0.5% by midday. Crypto-related stocks surged: Circle (CRCL) up 6%, BitGo (BTGO) over 8%, and Figure (FIGR) up 12%. UK custodian Stack BTC (STAK) jumped 200% following Nigel Farage’s involvement. Bitcoin’s correlation with the software stock ETF (IGV) is weakening, suggesting a more independent trajectory amid shifts in the Fear & Greed Index.

Odaily Planet Daily report: As concerns over potential oil supply disruptions eased, Bitcoin continued to rise on Tuesday, boosting global market risk appetite. The International Energy Agency (IEA) announced on Tuesday that it would convene an extraordinary meeting to discuss whether to release emergency oil reserves. WTI crude oil prices subsequently fell to $82, after surging to nearly $120 over the weekend, while the S&P 500 and Nasdaq 100 indices rose approximately 0.5% during midday trading.

Cryptocurrency-related stocks rose in tandem: stablecoin issuer Circle (CRCL) gained 6%, up nearly 100% over two weeks; digital asset infrastructure firm BitGo (BTGO) rose over 8%; blockchain company Figure (FIGR) climbed 12%. After announcing the addition of Nigel Farage, UK Bitcoin treasury firm Stack BTC (STAK) surged more than 200% cumulatively. The correlation between Bitcoin and the software stock ETF (IGV) is weakening, suggesting BTC may begin exhibiting more independent performance during periods of macroeconomic uncertainty. (CoinDesk)

Source:Show original

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.