Bitcoin falls below $83,000 amid higher oil prices, Treasury yields and slower ETF inflows

Bitcoin fell below $83,000 on October 7, dropping about 4%; CoinGape reported a 24-hour decline of 3.72% to $82,911 ^{[1] [2]}.

The decline coincided with higher oil prices and Treasury yields, while CoinGape also cited losses in precious metals and the unwinding of leveraged positions. Bitcoin Magazine linked the wider market decline to rising oil prices and higher borrowing costs ^{[3] [2]}.

U.S. spot Bitcoin ETFs drew about $2.6 billion in September, but their combined inflows so far this week were below $30 million, according to Yellow ^[1].

Glassnode said Bitcoin’s recent move above $85,000 was not a strong breakout, citing low trading volume and limited new capital inflows. Its analysis also said short-term investors were taking profits and significant liquidation levels were accumulating below the price ^[4].