Bitcoin slipped below $83,000 during Thursday’s Asian trading session, breaking a level that FxPro had previously identified as a key downside threshold. The brokerage warned that a sustained move below it could put bitcoin on a “quick path to $80,000.”
BTC fell 1.6% to just below $82,800. The decline came as Brent crude climbed above $102 a barrel following a report that the White House had asked the Pentagon to prepare possible strike options involving Iran. U.S. Treasury yields also moved toward their highest levels since 2002.
Among the largest cryptocurrencies, XRP suffered the biggest decline, losing nearly 4% to trade around $1.42. DOGE dropped 3% to below 9 cents, while ether fell 3% to about $2,570. HYPE and SOL declined more than 2% each, while ZEC was down less than 1%. BNB and TRX were the only gainers among the listed major tokens, rising less than 1% each, according to CoinDesk data.
The latest move took bitcoin beneath $83,000, a recent support level that FxPro said Tuesday would indicate sellers were gaining control. The firm previously warned that a break below the level could drive BTC toward $80,000 relatively quickly.
The weakness also followed a major wave of leveraged-position liquidations. Roughly $550 million in crypto bets were wiped out the previous day, with most of the losses coming from traders positioned for prices to rise, according to CoinGlass.
Oil markets faced several sources of upward pressure. Brent crude gained 2% to above $102 a barrel after the Iran-related report. A storm also disrupted some U.S. oil production, while Iran-backed Houthi rebels attacked two airports in Saudi Arabia, killing three people.
Higher oil prices contributed to renewed pressure on Treasury markets. The 10-year U.S. Treasury yield rose 2 basis points to 5.31%, bringing it closer to levels last seen at the highest point since 2002.
Equities also retreated from recent records. Wall Street benchmarks fell Wednesday after reaching all-time highs a day earlier, while Asian stocks followed with a 1% decline. MSCI’s All Country World Index dropped 0.2%, moving farther from the record level it had approached earlier in the week, when it was within 1.5% of the peak.
