Bitcoin Drops Below $83,000 as Oil Rises and Iran Talks Stall
Bitcoin traded near $82,600 early Monday, while Zcash fell 7% and Brent crude moved toward $108 a barrel.
Bitcoin (BTC) fell below $83,000 Monday as a broad crypto selloff coincided with rising oil prices, higher Treasury yields and increased bets on another Federal Reserve rate hike.
Bitcoin traded near $82,600, down 2% over 24 hours, at 6:02 a.m. ET (10:02 UTC). Zcash (ZEC) fell 7% to slightly above $1,540, Dogecoin (DOGE) declined 5% to about 9 cents, and Solana (SOL) and Hyperliquid (HYPE) each lost more than 4%.
Brent crude moved toward $108 a barrel as U.S.-Iran talks stalled. The five-year U.S. Treasury yield rose seven basis points to 5.06%, while Nasdaq 100 futures fell 1%.
The moves came after the Federal Reserve raised its policy rate Sept. 16 and ahead of two major U.S. economic releases. The Personal Consumption Expenditures report, the Fed’s preferred inflation gauge, is scheduled for Wednesday, Sept. 30, at 8:30 a.m. ET (12:30 UTC). The September employment report is due Friday, Oct. 2, at the same time.
