Bitcoin slips below $83,000 as yields and oil prices rise
Business
Bitcoin just slipped under $83,000 thanks to a mix of rising US Treasury yields, a stronger dollar, and climbing oil prices.
Ethereum also took a hit and is now trading near ₹2.54 lakh ($2,560).
Right now, Bitcoin is hovering around ₹79.9 lakh ($82,600).
Investors buy despite $213.4 million ETF outflows
Even with the drop, some investors are still buying in at $81,000 to $82,000.
The 10-year US Treasury yield is at its highest since 2002, which has made markets jittery.
There's also talk of an October Federal Reserve rate hike this month (odds sit around 19% to 22%).
Meanwhile, spot crypto ETFs saw $213.4 million in net outflows, another sign that things are pretty tense in the crypto world right now.