Crypto Market Slides as Oil, Yields and Dollar Pressure Risk Assets

Crypto assets sold off Wednesday as higher oil prices, Treasury yields and a stronger dollar pressured risk-sensitive markets, extending declines across major tokens.

Bitcoin (BTC) traded near $84,000, while Ether (ETH) and XRP also fell. The retreat followed a broader shift away from riskier assets as rising borrowing costs and renewed inflation concerns reduced demand for leveraged positions.

The 10-year Treasury yield stood at 5.31% and the 30-year yield at 5.66% on Oct. 5. Higher yields can make fixed-income investments more attractive relative to crypto assets, which do not generate interest.

A stronger dollar can add further pressure by tightening financial conditions globally. Forced closures of leveraged trades may also accelerate losses when prices move lower.