Bitcoin falls to $82,600 as oil prices and yields pressure crypto

  • Bitcoin fell below $83,000 as global market risks weakened cryptocurrency demand.
  • More than $500 million in market positions were liquidated.
  • Brent crude approached $108 per barrel after Iran rejected softer Strait of Hormuz demands.

Bitcoin briefly fell to $82,600 and traded below $83,000 as rising oil prices, Treasury yields and expectations of higher interest rates pressured risk assets. Brent crude approached $108 a barrel after Iran rejected softer demands over the Strait of Hormuz and negotiations failed to advance. The broader crypto sell-off included declines of 7% for Zcash, 5% for Dogecoin, more than 4% for Solana and Hyperliquid, and between 2% and 4% for Ethereum, BNB and XRP. More than $500 million in positions were liquidated as investors reduced leveraged exposure, while profit-taking after a four-day rally added pressure. The US five-year Treasury yield reached 5.06%, while Nasdaq 100 futures declined. Upcoming PCE inflation data, job openings and non-farm payrolls will be watched for clues about monetary policy and Bitcoin's next direction. This is not investment advice.

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Bitcoin falls to $82,600 as oil prices and yields pressure crypto - CoinPost Terminal