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Bitcoin Slips Below $83,000 as Treasury Yields Hit 2002 High

Bitcoin Slips Below $83,000 as Treasury Yields Hit 2002 High

Bitcoin faces renewed selling pressure as macroeconomic conditions weigh on risk appetite.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 8 October 2026 12:19 IST

Bitcoin Slips Below $83,000 as Treasury Yields Hit 2002 High

Photo Credit: Unsplash/Sajad Nori

Bitcoin traders assess renewed selling pressure after the latest market pullback

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Highlights

$550 million in long positions were liquidated
Bitcoin buyers accumulate around the $81,000-$82,000 range
Spot crypto ETFs record $213.4 million in net outflows

Bitcoin traded near Rs. 80.9 lakh on Thursday as the cryptocurrency market came under pressure from rising US Treasury yields, a stronger dollar and higher oil prices. Ethereum (ETH) was trading near Rs. 2.54 lakh, while major altcoins also declined. Market participants said Bitcoin's failure to reclaim recent resistance has brought macroeconomic concerns back into focus, with the 10-year Treasury yield reaching its highest level since 2002. At the same time, buyers are accumulating around lower levels, while markets are pricing only a 19-22 percent chance of an October Federal Reserve rate hike. According to CoinGecko data, Bitcoin traded near $82,600 (roughly Rs. 79.9 lakh), and Ethereum was trading near $2,560 (roughly Rs. 2.47 lakh).

The world's largest cryptocurrency fell 1.7 percent in the last 24 hours, according to the Gadgets 360 price tracker. Around $550 million (roughly Rs. 5,321 crore) in long positions were liquidated, while spot crypto ETFs recorded $213.4 million (roughly Rs. 2,065 crore) in net outflows. However, buyers are accumulating Bitcoin around $81,000-$82,000 (roughly Rs. 78.3 lakh-Rs. 79.3 lakh), providing an important layer of support.

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Major Altcoins Trade Lower on Thursday

Binance Coin (BNB) was priced around $767 (roughly Rs. 74,200), while Solana (SOL) traded near $115 (roughly Rs. 11,100). XRP hovered around $1.40 (roughly Rs. 135), while Dogecoin (DOGE) traded near $0.087 (roughly Rs. 8.7).

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Macro Pressures Keep Bitcoin Recovery Under Strain

Highlighting the impact of the stronger dollar, Treasury yields, and oil prices on Bitcoin, the CoinSwitch Markets Desk said, “The 10-year yield is at its highest level since 2002, the dollar is approaching its strongest level since April 2025, and Brent near $102 (roughly Rs. 9,800) is adding another layer of pressure as Middle East tensions rise. Even so, the $83,000 (roughly Rs. 80.3 lakh) area now gives BTC a clear line in the sand.”

Pointing to the impact of the latest Bitcoin positioning, Prateek Gupta, Head of Business, Mudrex, said, “Fed minutes showed little urgency for an October hike, with markets pricing in just 19-22 percent odds. On-chain data suggests fresh capital accounts for less than 40 percent of the rise in realised cap, though buyers are accumulating around $81,000-$82,000 (roughly Rs. 78.3 lakh-Rs. 79.3 lakh) and large holders have added 14,000+ BTC since October 1.”

Commenting on the broader crypto market and ETF flows, Nischal Shetty, Founder, WazirX, said, “Crypto markets traded with a cautious bias as investors assessed weaker prices, ETF outflows and mixed global cues [...] Sentiment nevertheless remained positive, with the Fear and Greed Index at 60, while Bitcoin dominance reached 59 percent. Spot crypto ETFs recorded $213.4 million (roughly Rs. 2,065 crore) in net outflows, adding near-term pressure [...] Broader risk appetite may depend on ETF flows, equities and movements in defensive assets such as gold and oil today.”

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Overall, analysts said Bitcoin's $82,000-$83,000 (roughly Rs. 79.3 lakh-Rs. 80.3 lakh) support zone remains important, while a recovery above $85,000 (roughly Rs. 82.2 lakh) could help rebuild momentum. A sustained move above $86,500-$87,000 (roughly Rs. 83.6 lakh-Rs. 84.1 lakh) would strengthen the case for Bitcoin to target $90,000 (roughly Rs. 87 lakh).

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Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More