Bitcoin briefly slipped below $82,300 on Oct. 8 before rebounding toward $82,500, with its 24-hour loss reaching 1.94% and the price falling through the closely watched $83,000 support level. According to BlockBeats, the move came as broader macro risk intensified. A report said the White House had asked the Pentagon to prepare military strike options against Iran, helping push Brent crude up about 2% and back above $102 a barrel. At the same time, the U.S. 10-year Treasury yield rose to 5.31%, near levels last seen in 2002, adding pressure on risk assets.
The weakness was not limited to BTC. XRP fell nearly 4% to $1.42, DOGE lost about 3%, ETH dropped around 3% to $2,570, and both HYPE and SOL declined more than 2%. BlockBeats also noted that about $550 million in leveraged crypto positions were liquidated the previous day, with most of those liquidations coming from bullish bets. FxPro had earlier said that if BTC were to break effectively below $83,000, sellers could regain control and the price might quickly test the area around $80,000.
Bitcoin briefly fell below $82,300 on Oct. 8 before recovering to around the $82,500 level, according to BlockBeats. The token was down 1.94% over the past 24 hours and had moved below the recent key support at $83,000.
FxPro had previously said that if BTC were to break effectively below $83,000, sellers could regain control of the market and the price could quickly move toward the $80,000 area.
Macro pressure rose at the same time
The drop came alongside a broader rise in macro risk. A report said the White House had asked the Pentagon to draw up military strike plans targeting Iran. That development pushed Brent crude up about 2% and back above $102 a barrel, while the U.S. 10-year Treasury yield climbed to 5.31%, close to highs not seen since 2002, adding pressure to risk assets.
Major crypto assets also moved lower
Losses spread across the broader crypto market. XRP fell nearly 4% to $1.42, DOGE lost about 3%, ETH dropped around 3% to $2,570, and both HYPE and SOL were down more than 2%.
The previous day, roughly $550 million in leveraged crypto positions were liquidated, with most of the wiped-out positions on the bullish side.
Oil and yields remain in focus
BlockBeats said Bitcoin’s past two down trading days both coincided with rising oil prices and higher Treasury yields. If Brent crude falls back below $100, some of the current pressure on risk assets may ease.
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