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Bitcoin falls below $83,000 in Monday Asia trade
Bitcoin was quoted near $82,953 at press time, down 1.8% in the prior 24 hours, as oil rose and Treasury yields edged higher.
Bitcoin slipped below $83,000 during Monday's Asia session, moving beneath the lower end of the $83,000 to $85,000 range that had been cited late last week. At press time, BTC was around $82,953, down 1.79% over the previous 24 hours.
CryptoSlate also linked the move to broader market pressure at the start of the week, noting that oil and bond yields were rising. Reuters coverage cited Brent crude futures up 1.6% to $106 a barrel and the 30-year U.S. Treasury yield edging to about 5.51%.
The outlet said the higher oil prices were tied to doubts over a U.S.-Iran truce, which renewed inflation concerns, while higher yields can increase the return available on government debt and add pressure to risk-sensitive markets. That backdrop coincided with Bitcoin extending last week's retreat from roughly the $87,000 level.
Latest closeWTI crude $92.44 ▼2.3%|Brent $97.47 ▼8.6%|Bitcoin $83,535.92 ▼1.1%