Bitcoin broke the 83,000 dollar mark on Monday after having again approached 85,000 dollars over the weekend. BTC fell to about 82,700 dollars on some marketplaces, erasing another part of it
Bitcoin broke the 83,000 dollar mark on Monday after having again approached 85,000 dollars over the weekend. BTC fell to about 82,700 dollars on some marketplaces, erasing another part of its September rally. Nasdaq futures are also declining while oil is rising again. Tensions between Washington and Tehran return to the forefront.
The market had already experienced this dynamic. In early September, Bitcoin had fallen below 77,000 dollars after US strikes against Iran. Oil had then exceeded 93 dollars. This time, Bitcoin came with more margin. BTC had reached 87,374 dollars on September 21, its highest level since January. Even on Sunday, it rose back up to about 85,100 dollars. Monday’s session brought it back below 83,000 dollars, with a low around 82,700 dollars.
Nearly 4,700 dollars now separate the market from its recent peak. The movement also affects other major cryptos. Ether, XRP, and Solana are trading in the red, while Nasdaq futures were down about 0.7% at the start of the session.
Donald Trump said Sunday that he did not rule out new strikes against Iran, while believing that an outcome to the conflict remains possible. No new US attacks have been announced at this stage.
Your 1st cryptos with BinanceThis link uses an affiliate program.Oil has reversed direction. WTI was trading around 93 dollars on Monday and Brent exceeded 105 dollars. Prices rebounded after Trump rejected an Iranian proposal aimed notably at moving toward a resolution of the conflict and reopening the Strait of Hormuz. Nonetheless, Tehran and Washington must continue their exchanges.
For Bitcoin, this return of energy to the debate arrives after an already turbulent week. On Thursday, BTC had dropped to 83,508 dollars after its failure above 87,000 dollars. Nearly 583 million dollars of crypto positions were liquidated at that time.
The market had managed to stay above 83,000 dollars. This threshold has now briefly broken. Oil adds another difficulty. Sustained expensive energy can maintain US inflation, push bond yields higher, and complicate the next Federal Reserve decisions.
US yields are already rising. Bitcoin thus finds itself between several forces: profit-taking after its rally, high rates, and the return of geopolitical risk.
The US calendar will not help much. Several economic indicators are expected this week, including data on inflation, manufacturing activity, and employment. Investors will mainly seek to know whether the Fed will need to further tighten its monetary policy.
The central bank has just raised rates by 25 basis points. The range now stands between 3.75% and 4%. Bitcoin had initially absorbed the decision relatively well. A few days later, BTC even rose back up to 87,374 dollars. Since then, the rise in US yields has already started to weaken this rebound.
The numbers tell the change of scenery quite well. 87,374 dollars on September 21. Nearly 85,000 dollars on Sunday. Less than 83,000 dollars on Monday. Bitcoin nevertheless remains significantly above levels near 75,000 dollars seen in mid-September. So it is not yet a complete erasure of the rally. But the 83,000 dollars for BTC no longer serve as an intact floor. And Iran returns at the worst time.
