Yahoo Crypto Market • October 7th 2026, 4:00 PM
Bitcoin falls below $84K as it faces pressure from oil prices, bonds
Key Summary
Bitcoin has dropped below $84,000 due to increased pressure from rising oil prices, 30-year treasury yields, and a strengthening US dollar. Despite a recent price surge, the cryptocurrency's price action indicates a range-bound trading pattern, which is considered constructive. However, the current market conditions may negatively impact Bitcoin's value.
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Scott Melker discusses bitcoin (BTC-USD) dipping back below $84,000 per token as the cryptocurrency faces pressure from oil prices (CL=F, BZ=F), Treasury yields (^TYX, ^TNX, ^FVX), and the US dollar (DX-Y.NYB). "The Daily Wolf with Scott Melker" airs every day at 12:00 p.m. Tune in for your daily dose of all things crypto.
#Bitcoin#US#Crypto#OilPrices#30YearTreasuryYields#USDollar