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Bitcoin (BTC) fell further at Wednesday’s Wall Street open as oil prices gained on US-Iran war headlines and stocks came off all-time highs.
Key points:
- Bitcoin fell to $82,734 on Bitstamp, marking its lowest levels so far traded in October.
- US bond yields spiked to new 24-year highs and Brent crude oil prices rose to $102 per barrel after Iranian comments on shipments through the Strait of Hormuz.
- BTC price analysis warns of lackluster demand on both spot and derivatives markets.
Bond yields set new 24-year high on Iran oil clampdown
Data from TradingView showed BTC/USD dipping below $83,000, setting new month-to-date lows.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Mixed signals over oil traffic through the Strait of Hormuz pushed Brent crude oil to $102 per barrel on the day, while WTI crude reached $91.
An adviser to Iran’s Revolutionary Guards’ Commander quoted by Reuters on the day warned of a clampdown on traffic…
