TLDR
- Bitcoin is trading near $83,000 after pulling back from highs above $87,000 last week.
- ZEC fell 12% to about $1,380, the steepest drop among major tokens.
- Rising oil prices and Treasury yields are fueling bets on another Federal Reserve rate hike.
- Bitcoin ETFs pulled in $2.39 billion last week, the strongest inflow week since October 2025.
- Solana ETFs also posted a record week with $188 million in inflows.
Bitcoin traded near $83,000 on Tuesday as rising oil prices and higher bond yields put pressure on the crypto market. Investors are watching for signs the Federal Reserve could raise interest rates again.
The largest cryptocurrency slipped under 1% to just above $83,100 during Asian morning hours. It is now testing the lower end of last week’s trading range.
Bitcoin had briefly traded above $87,000 last week before the pullback. Weakness has since spread across much of the altcoin market.
ZEC fell 12% to about $1,380, the steepest drop among major tokens tracked by CoinDesk. SOL and HYPE each lost between 3% and 4%.
DOGE dropped 3% and BNB fell 2%. XRP declined nearly 2% as well.
Ether and TRX stayed flat. Ether traded around $2,670, while Solana held near $118 after a strong rally over the past two months.
Smaller tokens moved in different directions. The Graph’s GRT jumped 18% and Immutable’s IMX rose nearly 10%.
UNI and BCH each fell about 10%, while DASH lost 7%. Total crypto market value sat near $2.86 trillion.
A widely watched sentiment index stood at 74 out of 100 on Monday, just short of the “extreme greed” zone.
Bitcoin Faces Pressure From Bonds and Oil
The main pressure on crypto is coming from bond markets and energy prices. The 10-year Treasury yield rose to about 5.25%, its highest level since 2007.
A higher guaranteed return on government debt raises the bar for holding assets that pay no income, including bitcoin.
Brent crude climbed more than 1% to nearly $107 a barrel, its second straight daily gain. Hopes for a diplomatic breakthrough with Iran faded, keeping supply concerns in place.
Pricier oil feeds into inflation. Traders have been adding to bets that the Fed will raise rates again in October.
The Nasdaq 100 futures slipped 0.3% after a tech led selloff on Wall Street Monday. Investors are now waiting for Wednesday’s PCE inflation data, the gauge the Fed watches most closely.
ETF Inflows Stay Strong Despite the Price Drop
Institutional demand for Bitcoin has stayed strong even as the price fell. U.S. spot Bitcoin ETFs attracted about $2.39 billion in net inflows last week, the strongest week since October 2025.
BlackRock’s IBIT accounted for roughly $1.2 billion of those inflows. The gap between rising ETF demand and a falling price suggests broader selling is offsetting institutional buying for now.
Solana ETFs also had a record week. All seven available funds attracted new money, totaling $188 million.
Bitwise’s BSOL led the group with about $128 million. The funds added another $12.7 million on September 28, extending the trend.
Volatility has increased alongside the price swings. More than $500 million in leveraged crypto positions were liquidated over 24 hours.
The $83,000 level is now seen as a short-term marker for bitcoin. A move back toward $85,000 to $87,000 would put recent highs back in focus, while a drop below $83,000 could add more pressure heading into Wednesday’s inflation report.
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