Bitcoin slipped below $66,000 on Wednesday after reaching its highest level in over a month the previous day, as a spike in oil prices triggered renewed inflation concerns and prompted investors to seek safe-haven assets. West Texas Intermediate (WTI), the main US oil benchmark, climbed past $85 per barrel for the first time since June 12. This surge in energy costs resulted from escalating geopolitical tensions involving Iran, contributing to persistent inflationary pressures that have affected risk assets throughout the year.