Bitcoin hovered near $82,500 on Wednesday as Middle East tensions and oil prices above $110 per barrel weighed on sentiment. The cryptocurrency's correlation with tech stocks intensified following last week's hot U.S. inflation report and a selloff in AI and chip sectors, challenging its status as an independent safe haven. XS.com analyst Simon-Peter Massabni identified $82,500 as critical support, warning that a decisive break below this level could trigger a decline toward $70,000, representing a potential 15% drop from current levels. Market maker Wintermute similarly outlined the $70,000 downside scenario. However, Nasdaq 100 futures rose 0.4% and S&P 500 futures gained 0.2% after SpaceX shares jumped 9% premarket on strong earnings driven by AI and satellite internet businesses. Reports that Anthropic may spend $750 billion on computing power also eased concerns about the AI spending boom. Brent crude topped $110 amid attacks near the Strait of Hormuz, while Treasury yields edged higher. A sustained move back above $84,000 would negate the bearish outlook.