Bitcoin Falls Below $84,000; Rising Oil Prices Affect the Crypto Market
2026-10-07 18:37:16
CoinMeta data: Bitcoin fell below $84,000 after midnight on UTC, and is currently at $83,752.90. Previously, an escalation in attacks by Iran against oil tankers in the Strait of Hormuz pushed Brent crude oil prices above $101 per barrel, leading to increases in Treasury yields and the US dollar. Market losses worsened, with the smaller tokens tracked by the CoinDesk 80 index falling by nearly 4% in the past 24 hours, while the CoinDesk 5 index fell by 2.5%. Decentralized finance (DEFI) tokens fell by nearly 6%, and the meme token index fell by about 5%. During this period, liquidation volume soared by 235% to reach $547 million. Ethereum (ETH) is currently at $2,581.61, down 3.5% since midnight. The demand for spot Bitcoin in the United States (ETF) remained stable before the decline, with $119 million in capital inflows on Tuesday, making it the fourth day of capital inflows in the past five trading days. The minutes of the Federal Reserve's September meeting will be released on Wednesday. Analysts (Dan Khus) stated that weak employment data reduces the likelihood of another interest rate hike this month.
Source:CoinDesk
This content is for market information only and does not constitute investment advice.
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