The crypto market has fallen on Oct. 7 as another rise in oil prices, elevated U.S. Treasury yields, a firmer dollar and heavy long liquidations pushed traders away from riskier assets.
Summary
- Bitcoin fell near $84,286 as oil, Treasury yields and the U.S. dollar moved higher Wednesday.
- More than $403 million in leveraged crypto longs were liquidated within one hour during selling.
- Brent crude climbed above $101 as tanker attacks and Middle East supply risks pressured markets.
- Markets await Federal Reserve minutes while traders price only a 20.5% chance of October hike.
- Bitcoin exchange supply fell to 6.5% after 24,073 BTC left exchanges, Santiment data showed.