Bitcoin Falls Lower as Trump's Iran Snub Sends Oil, Yields Higher
Bitcoin is pulling back to around $83,000 after failing to break above $85,000, but the move still looks like consolidation within a broader bullish trend. The August–September rally took BTC from the mid-$70,000s to a peak near $87,354, and key indicators remain constructive: the 50-day moving average is above the 200-day, RSI is 58.7, and ADX is 43.2, suggesting a strong trend rather than a clear reversal. The drop is being driven more by macro pressure than crypto-specific weakness. Rising oil prices, a stronger dollar, and higher Treasury yields are weighing on risk assets like Bitcoin and gold. Most major cryptocurrencies are also down, while the total crypto market cap has slipped to about $2.86 trillion. Derivatives activity remains elevated, with open interest and trading volume surging and long liquidations dominating losses. Spot Bitcoin ETFs are still seeing net inflows. This week’s U.S. economic data—JOLTS, inflation, and jobs—will shape expectations for another Fed hike, which could keep pressure on Bitcoin if rate-cut hopes fade.
