Bitcoin Hits October Low of $82,734 as US Treasury Yields Surge to 24-Year High
Key Facts
Bitcoin price dropped to an October low of $82,734 during trading on October 7, 2026. This decline coincided with U.S. Treasury yields climbing to their highest levels in 24 years, exerting further downward pressure on the cryptocurrency.
The move followed Bitcoin breaking below the $84,000 support level earlier in the day amid escalating tensions in the Strait of Hormuz. Reuters reported that geopolitical instability pushed Brent crude past $100 per barrel, strengthening the U.S. dollar and weighing on risk-sensitive assets including Ether and XRP.
Latest Updates · 4
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Update: Brent crude extended its gains to surpass $101 per barrel on October 7, 2026, intensifying selling pressure on altcoins. Consequently, Ethereum (ETH) dropped below the $2,600 mark, while XRP declined toward the $1.46 level.
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Update: Bitcoin's decline wiped out $80 billion from the total crypto market capitalization. The price drop also triggered $550 million in liquidations, primarily affecting long positions, on October 7, 2026.
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Update: Crypto market liquidations exceeded $400 million on October 7, 2026. Bitcoin's price experienced a sharp decline of $1,600 within a 15-minute window, accelerating losses across long positions.
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Update: US spot Bitcoin ETFs recorded net outflows of $89.90 million on Monday and $3 million on Tuesday, October 6, 2026. Conversely, Strategy maintained its Bitcoin acquisition pace despite the institutional selling pressure.