Bitcoin fell below $83,000 during Monday’s Asian trading session, extending its decline from last week and breaking beneath the $83,000-$85,000 range identified in recent market analysis.
BTC was trading at about $82,953 at press time, down 1.79% over the previous 24 hours. Monday’s move also established a new low after Bitcoin had retreated from near $87,000 last week.
CryptoSlate’s Friday analysis had focused on Bitcoin’s struggle within a range of roughly $83,000 to $85,000 following that pullback. A price of about $83,400 would still have remained within Friday’s band, but early trading on Monday pushed the cryptocurrency below its lower boundary.
The decline came as wider financial markets began the week under pressure from rising oil prices and government bond yields.
In early Asian trading, Reuters reported that Brent crude futures had climbed 1.6% to $106 a barrel. The yield on 30-year US Treasuries also edged higher, reaching about 5.51%, while Asian shares made a cautious start.
Reuters attributed the increase in oil prices to uncertainty over a possible US-Iran truce, which renewed concerns about inflation. Higher government bond yields increase the returns available from holding sovereign debt, adding pressure to risk-sensitive assets such as Bitcoin.
Those broader market movements coincided with Bitcoin’s fall below the key $83,000 level.
Data on US spot Bitcoin exchange-traded funds offered a more limited indication of demand. Farside Investors’ live table showed net inflows of $134.5 million on Friday, Sept. 25, compared with $190.7 million on Thursday when the figures were checked on Monday.
Both sessions recorded positive flows, although the daily amount fell between Thursday and Friday. The Friday figures covered the final US trading session before the weekend, while the Bitcoin price below $83,000 in USDT terms on Binance was recorded during a later Asian session.
The ETF figures therefore showed that demand had not become a net outflow on Friday, but they did not yet provide a view of Monday’s trading flows.
Bitcoin’s next move will determine whether the breach is treated as a temporary dip or a deeper shift in the recent trading pattern. A recovery into the range reported on Friday would make Monday’s move below $83,000 short-lived. Continued trading beneath that level would give the newly established lower price greater significance.
