Hassan Maishera
TL;DR
-
Bitcoin fell 1.6% to just below $82,800 during Thursday’s Asian morning session.
-
XRP led losses among major cryptocurrencies, dropping nearly 4% to approximately $1.42.
-
Brent crude rose 2% above $102 following a report about potential U.S. military action against Iran and other supply concerns.
-
The U.S. 10-year Treasury yield climbed to 5.31%, adding pressure to crypto and equities.
Bitcoin briefly slipped below $83,000 Thursday as rising oil prices and Treasury yields weighed on cryptocurrency markets.
BTC declined 1.6% to just under $82,800 during Asian morning trading, according to CoinDesk data. The retreat followed a report that the White House had asked the Pentagon to prepare strike options against Iran, adding to concerns about energy supplies.
The selloff extended across most major tokens and came a day after approximately $550 million in leveraged crypto positions were liquidated.
XRP Leads Losses Across Major Cryptocurrencies
XRP recorded the steepest decline among the major assets covered in the report, falling nearly 4% to around $1.42.
Ether lost approximately 3% to trade near $2,570, while Dogecoin dropped 3% to just below $0.09.
HYPE and Solana each declined more than 2%. Zcash was comparatively resilient, slipping less than 1%.
BNB and TRX were the only gainers in the group, with both advancing less than 1%.
The broad weakness followed substantial derivatives losses. CoinGlass data showed that around $550 million in leveraged positions were wiped out the previous day, predominantly among traders positioned for higher prices.
Oil Supply Concerns Push Brent Above $102
Brent crude climbed 2% to more than $102 a barrel as several developments heightened supply concerns.
Alongside the report about U.S. strike options against Iran, a storm disrupted some American oil production. Iran-backed Houthi rebels also struck two airports in Saudi Arabia, killing three people, according to the supplied report.
Higher energy prices can reinforce inflation concerns and complicate expectations for monetary policy.
The U.S. 10-year Treasury yield rose two basis points to 5.31%, moving back toward its highest levels since 2002. Rising yields added another headwind for risk assets as investors reassessed financial conditions.
Bitcoin’s Break Below $83,000 Puts $80,000 in Focus
Bitcoin’s decline breached a recent low around $83,000 that FxPro had highlighted Tuesday.
The firm said a break below that threshold would signal sellers taking control and could lead to a relatively quick move toward $80,000.
That projection remains conditional. The loss of $83,000 strengthens the bearish technical case, but does not guarantee that Bitcoin will reach the lower target.
Bitcoin’s latest two losing sessions both coincided with higher oil prices and rising yields, suggesting macroeconomic pressure remains an important influence on its near-term direction.
For Bitcoin, easing energy prices could help relieve some of the immediate pressure. A decline in Brent below $100, where it traded Tuesday, would reduce one source of inflation concern, although renewed buying would still be needed to stabilize the crypto market.
