Add as a preferred source on GoogleBitcoin Slips Below $82,300 as Iran Tensions Push Oil Above $102
Bitcoin recovered toward $82,500 but remained below the recent $83,000 support level as rising oil prices and Treasury yields pressured risk assets.
Bitcoin (BTC) briefly fell below $82,300 on Thursday as heightened tensions involving Iran pushed Brent crude above $102 a barrel and pressured broader risk appetite.
BTC recovered toward $82,500 but remained below the recent $83,000 support level. The asset was down 1.94% over 24 hours, extending a decline that has coincided with rising oil prices and higher Treasury yields.
Brent crude gained about 2% to move back above $102 a barrel. The U.S. 10-year Treasury yield rose to 5.31%, close to its highest level since 2002, adding pressure to risk-sensitive assets.
Other major cryptocurrencies also weakened. Ether (ETH) fell about 3% to $2,570, while XRP dropped nearly 4% to $1.42 and Dogecoin (DOGE) declined about 3%. HYPE and Solana (SOL) each fell more than 2%.
About $550 million in leveraged crypto positions were liquidated the previous day, with bullish positions accounting for most of the total. The market move leaves crypto prices sensitive to further changes in oil and bond yields.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.